Bon Secours
Medical Campus Collection
RICHMOND, VIRGINIA
Campus Collection Investment Opportunity: Six Medical Outpatient Buildings Anchored by a Premier Investment-Grade Health System
Best Offer: OFFERING PRICE
405,945 RSF TOTAL SIZE
94% PERCENTAGE LEASED
$10,346,124 IN-PLACE NOI
The Offering
CBRE’s U.S. Healthcare Capital Markets Group is pleased to offer the exclusive opportunity to acquire the leasehold interest in the Bon Secours Medical Campus Collection (the “Portfolio”) located in the Richmond, Virginia metropolitan market. The Portfolio consists of six (6) medical outpatient buildings and represents a rare opportunity to purchase approximately 405,945 square feet of core product located on Bon Secours Mercy Health hospital campuses.
Bon Secours Mercy Health is one of the largest Catholic health systems in the country, operating 50 hospitals (acute care and others) and over 1,200 sites of care across seven states. Bon Secours’ strong financial performance is evidenced by its “A1” upgrade rating from Moody’s and “AA-” rating from Fitch.
The Portfolio is comprised entirely of on-campus facilities which are integral to Bon Secours’ delivery of critical healthcare services throughout the Richmond MSA. A testament to the strategic importance of the assets in the portfolio, Bon Secours accounts for 72% of total rentable area, including 34,001 square feet of new Bon Secours leases. Further, Bon Secours continues to invest heavily in the collection of assets, headlined by its $370 million expansion at St. Mary’s Hospital, which includes the addition of 2,695 square feet of new space being constructed at St. Mary’s MOB South for a linear accelerator (LINAC).
The institutional-quality collection of assets is currently 94% leased, offering an investor the rare opportunity to acquire a core portfolio of scale anchored by a leading investment grade credit health system.
Investment Highlights
- Prominent Investment-Grade Credit Health System Tenancy
- Instant Scale in a High Margin Market with Strong Market Share
- Heavy Barriers to Entry with Certificate of Need Regulation
- 100% On-Campus Real Estate Undergoing Expansion
- Strong and High Growth Local Market
- Mission-Critical Programming
- “Recession Resistant” Property Category
CBRE U.S. Healthcare Capital Markets
INVESTMENT SALES
Brannan Knott
+1 443 983 6039
brannan.knott@cbre.com
Chris Bodnar
+1 720 635 2653
chris.bodnar@cbre.com
Cole Reethof
+1 404 504 7864
cole.reethof@cbre.com
DEBT & STRUCTURED FINANCE
Zack Holderman
+1 858 337 9412
zack.holderman@cbre.com
Jesse Greshin
+1 860 808 4810
jesse.greshin@cbre.com
CBRE Richmond
Eric Williford
+1 804 401 4003
eric.williford@cbre.com
Matt Hamilton
+1 804 401 4005
matt.hamilton@cbre.com
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