Richmond – November 20, 2025 – CBRE is pleased to announce that it facilitated the sale of the leasehold interest in the Bon Secours Medical Campus Collection, a six (6) asset portfolio totaling 405,945-square-feet of medical outpatient buildings (MOBs) located in the Richmond, Virginia metropolitan market.
Chris Bodnar, Brannan Knott and Cole Reethof of CBRE’s U.S. Healthcare Capital Markets partnered with Eric Williford and Matt Hamilton of CBRE’s Richmond Advisory Services to act as the exclusive advisors to the seller. CBRE’s U.S Healthcare Debt & Structured Finance team led by Zack Holderman and Jesse Greshin also secured the loan for the purchaser, AW Property Co., with CapitalOne Commercial Banking.
The portfolio is comprised entirely of on-campus facilities anchored by Bon Secours Mercy Health. Bon Secours is one of the Top 5 largest Catholic health systems in the United States, operating 50 hospitals 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, an “AA-” rating from Fitch Ratings and an “A+” rating from Standard & Poor’s. The institutional-quality collection of assets in the portfolio is 94% leased overall, strategically positioned across three Bon Secours Mercy Health hospital campuses in Richmond. Across all the system’s hospitals, Bon Secours has a 46.3% market share.
“This portfolio sale represents a rare opportunity to acquire a core portfolio of scale anchored by a leading investment grade credit health system within the fastest growing city in Virginia,” said Brannan Knott, CBRE’s Executive Vice President of the U.S. Healthcare Capital Markets practice. “The Bon Secours hospital campuses in the portfolio are among the top performers in Virginia, providing a strong foundation for long-term operational stability for AW Property Co. as the new owner.”
The Richmond MSA is a leading secondary investor market located in Central Virginia, approximately 90 minutes south of the Washington, D.C./Northern Virginia area and strategically positioned half-way between Boston and Atlanta. Richmond is one of the leading political, financial and cultural centers in the Southeastern United States and serves as the state capital for Virginia. With a population in the metropolitan area of approximately 1.3 million people, Richmond has immense growth potential. Eight Fortune 500 and 12 Fortune 1000 companies such as Altria, CarMax, PFG, Dominion, Owens & Minor, Genworth, and Markel have all chosen Richmond as their headquarters. Other large corporations such as Capital One, CoStar, Amazon, Facebook, Bon Secours, SunTrust, Wells Fargo, Bank of America, BB&T, UPS, DuPont, Honeywell, and WestRock have chosen Richmond as a strategic location for large operations. The Richmond MSA maintains a highly educated workforce with deep State and Federal government presence, in addition to the area’s expansive public higher education system.
The purchaser, AW Property Co., is a vertically integrated, private real estate investment company that specializes in acquiring, enhancing and operating medical properties in targeted growth markets in the United States Sunbelt region. With headquarters in North Palm Beach, Florida, and regional offices strategically located throughout the Sunbelt, it has expertise in all facets of real estate acquisitions, operations, finance and investment management. For more information, please visit: www.awproperty.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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