ERE Healthcare Real Estate Advisors is pleased to announce the successful sale of a 17,641 SF regionally dominant dermatology facility in Owensboro, KY.
ERE was engaged by the physician partners to structure a sale and leaseback transaction. With sustainability in mind, the partners elected to move forward with a rental rate significantly lower than they had historically paid. Through a competitive bidding process, ERE generated 6 offers for the facility. Establishing a lower rent allowed the practice to free up operating cashflow, while still creating a significant liquidity event in the real estate sale.
The sale was successfully executed, setting a record for medical properties sold in Owensboro, KY and meeting the partnership’s key objectives of setting a sustainable lease rate and avoiding personal guarantees.
The transaction was led by Collin Hart.