ERE Healthcare Real Estate Advisors (“ERE”) is pleased to announce the successful sale of a 31,977 SF Urologic Clinic & ASC in Tallahassee, FL, which is part of the largest, single-specialty urology group in the state and third largest in the US.
Having developed their facility 20 years earlier, the physician real estate partnership had experienced significant appreciation in value. But given the high building value, buy-ins and buy-outs were challenging, creating a strain in the recruiting process and causing a lack of liquidity for the senior partners.
ERE was exclusively engaged to explore a sale and leaseback with a specific focus on the practice continuing to operate, uninterrupted, within the facility. Conducting a proprietary Call for Offers process, ERE generated nine competitive offers, leading to identification of the most aggressive buyer. While premium pricing was important, ERE also negotiated for the practice to maintain maximum long-term control of the facility, meeting the partnerships’ primary objective. ERE conducted a discreet marketing process, ultimately executing the sale at a record setting price, resulting in very satisfied clients.
The transaction was led by Collin Hart and Darian Padua.