HREA | Healthcare Real Estate Advisors is pleased to announce the real estate sale of a newly built state-of-the-art outpatient surgery center and clinic that is well-located in Vestavia, Alabama, an affluent suburb of Birmingham, and a medical office building in Montgomery, Alabama.
Constructed in 2020, the Vestavia Hills MOB & ASC is 100% leased by Surgical Dermatology Group (SDG), and was specifically designed and built for SDG, serving as the flagship location and outpatient surgery center. In 2023, Surgical Dermatology Group partnered with AQUA Dermatology, the largest full-service skincare provider in the Southeast, with over 100 locations and 200 providers to meet the demand of the rapidly expanding healthcare market. AQUA Dermatology is backed by the private equity firms, Gryphon Investors and GTCR, two leading middle-market private equity firms, which have a combined $33 billion of assets under management.
The Vestavia Hills location is located within the Birmingham – Hoover, AL MSA, which has an estimated population exceeding 1.1 million, making it the largest metropolitan area in Alabama and 58th in the U.S. Further enhancing the stability of the practice, Alabama has a certificate-of-need (CON) program for surgery centers that limits healthcare providers from entering new markets without first gaining approval from state regulators.
SALE HIGHLIGHTS
+ Certificate of Need (CON State) – Strong Barriers to Entry
+ Build-to-Suit Construction for Surgical Dermatology Group
+ PE Backed & Strategic MSO Partnership
+ Long Term Absolute NNN Lease w/ 2.5% Annual Increases
+ Competitive Bid Environment – Generated Multiple Offers
+ All-Cash Buyer – No Financing Contingency
HREA | HEALTHCARE REAL ESTATE ADVISORS is a national leader in advising physicians, health systems, and real estate owners with a variety of real estate monetization strategies, including sale-leasebacks, debt & equity recapitalization, and tax-deferred options, such as the Hybrid Sale-Leaseback®, which allows continued physician-ownership in the real estate, §1031 like-kind exchange, and reinvestment into a REIT, known as an UPREIT, which provides tax-efficient cashflow and a diversified investment in a healthcare REIT.
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CHRISTOPHER L. STAI, CPA
Managing Director
(480) 433-3494
cstai@healthcareREA.com
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Raleigh, NC
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RYAN V. MICHAELS
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JOE KARNES
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jkarnes@HealthcareREA.com
Denver, CO
HREA | Healthcare Real Estate Advisors
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