The practice has served the community since 2004, but has grown significantly over the past 3 years, adding 4 orthopedic surgeons, doubling the number of practicing physicians.
ERE Healthcare Real Estate Advisors was engaged to explore a sale and leaseback with a specific focus on the practice maintaining control of the facility. Conducting a proprietary Call for Offers process, ERE generated 8 competitive offers. During the process, ERE identified the most aggressive buyer, but with sensitivity to practice growth. As part of the transaction, ERE negotiated the practice’s ability to freely convert staff offices into additional exam rooms. At the same time, ERE leveraged health system relationships to obtain a ROFR waiver and secure additional parking for the practice.
The sale was successfully executed, facilitating the founding physician partners to cash out of their real estate investment, allowing them to focus solely on growth of the practice, without real estate complicating their recruiting efforts.
The transaction was led by Collin Hart and Marc Flynn.