Vitalis acquired Larchmont Medical Center in Mt Laurel, NJ on June 26, 2023. The building sold for $232 PSF and is anchored by Larchmont Imaging (US Radiology). For over 50 years, Larchmont Imaging has been a trusted provider of imaging services, with six locations strategically located throughout southern New Jersey. In 2022, US Radiology Specialists acquired Larchmont Imaging, marking USRS’s largest acquisition to date. This location provides a comprehensive range of imaging services, including Fluoroscopies, ultrasounds, MRI, CT, PET scans, and more.
The transaction includes 10-year Sale Leaseback’s with the remaining Tenants, solidifying their long-term commitment to this location. The 100% occupied outpatient facility features a highly synergistic mix of investment grade credit and prominent regional practices focused on Imaging, Ob-Gyn, ENT, Orthopedic, and Oral care.
Evan Zweben with Wolf CRE represented the sellers in the transaction. “Very few people who say they will do something, actually do it.” said Zweben, “I am extremely impressed with Vitalis’ process and team. There are very few transactions where everyone walks away feeling it was smooth, fair, professional, and unemotional. This was one of those – it was a breath of fresh air.”
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About Vitalis: Elliot LaBreche is the founder of Vitalis, a vertically integrated real estate investment company focused on Healthcare Real Estate investment sales, acquisitions, and leasing across the US.
About Advenir: Stephen Vecchitto, founded Advenir in 1996 and serves as the company’s Managing Director. Advenir acquires, develops, and manages multi-family and single-family rental communities on behalf of high net worth and institutional investors. Advenir’s current multi-family portfolio consists of 15,000 units valued at over $3 Billion.
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