$109,500,000 Medical Office Sale – Fairfield Advisors announced that it has facilitated the sale of a 9 Medical Office Building Portfolio. The MOBs are located in Des Moines, IA., Tucson, AZ., Pittsburgh PA., and Akron, OH. The anchor tenants are larger regional hospital systems including Methodist UnityPoint, University of Iowa Health, Mercy-Trinity Health, and St. Mary’s-Tenet Health. Tenants also include dominant, regional Oncology, Orthopedic and Cardiology practices. All the buildings are located on or adjacent to hospital campuses. The seller of the MOB portfolio was the Graham Group which is a family-office that is based on Des Moines and has successfully owned and developed a wide range of medical buildings. The Graham Group selected Fairfield Advisors to be the exclusive advisor on the transaction
“We chose Fairfield Advisors to market these Medical Buildings based on their extensive experience and success in the HealthCare Real Estate marketplace,” said Doug Den Adel, President of the Graham Group. We couldn’t be more pleased with the results. Fairfield not only sourced the buyer for the buildings but also assisted in the Due Diligence and Closing parts of the transactions. We would highly recommend Fairfield to any group that is looking to monetize HealthCare Real Estate.”
“We are very pleased to be able to close on a transaction of this size and scope,” said Greg Trainor, Managing Partner with Fairfield Advisors. “The transaction presented a fair amount of complexity given how integral the MOBs are to the operations of the hospitals along with the large number of tenants across the portfolio. We built a close relationship with the sellers to fully understand the portfolio so that we could accurately define the pros and cons to potential buyers and make the process efficient for all parties involved. To get this type of transaction successfully completed in the environment we are in (deb market volatility, shortage of transactions, etc…) is a strong testament to the process that Fairfield utilizes for monetizing HealthCare Real Estate.”
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