Fifth Third Securities’ Real Estate Investment Banking team (“FTS”) served as the exclusive advisor to an investment group affiliated with Florida Medical Clinic (“FMC”), a Tampa Bay–based multi-specialty physician practice and wholly owned subsidiary of one of the largest not-for-profit health systems in the country, in capitalizing the build-to-suit development of two medical outpatient buildings (“MOBs”) in Wesley Chapel, Florida (the “Project”).
The transaction was led by FTS Vice President Jake Gorin, Matthew Tarpley and Ravi Patel.
The Project follows the health system’s acquisition of Florida Medical Clinic as a part of its strategy to expand its clinical footprint across Pasco, Pinellas and Hillsborough counties. The two MOBs, totaling 90,000 SF and 60,000 SF and each featuring an ambulatory surgery center, will be located on the new Wiregrass Ranch Hospital campus.
Construction financing is being provided by a Mississippi‑based regional bank with a longstanding presence in the Tampa Bay market and an established track record in healthcare real estate.
“The Wiregrass Ranch master-planned development is one of the most exciting developments for healthcare in the county, and the Wiregrass Ranch Hospital campus sits at its center,” said Jake Gorin, Vice President of the Real Estate Investment Banking Group at Fifth Third Securities. “We were pleased to capitalize the on-campus MOBs and secure a lender to support our client’s pipeline.”
Fifth Third Securities
Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a wholly owned subsidiary of Fifth Third Bank, National Association, a registered broker-dealer, and a registered investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Securities and investments offered through Fifth Third Securities, Inc.: Are Not FDIC Insured, Offer No Bank Guarantee, May Lose Value, Are Not Insured By Any Federal Government Agency, Are Not A Deposit.
Fifth Third Securities’ Real Estate Investment Banking Group For more than 15 years, the real estate investment banking professionals at Fifth Third Corporate & Investment Banking have successfully served as advisors on real estate transactions in excess of $15 billion nationwide.
For additional information, contact Matthew Tarpley, Managing Director, Real Estate Investment Banking, at Matthew.Tarpley@53.com.
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