ERE Healthcare Real Estate Advisors (“ERE”) is pleased to announce the successful sale of a 16,070-square-foot neurology and pain management real estate portfolio located in Tallahassee, Florida.
Southeast Neurology & Pain Management was founded in 2010 and has grown into a leading provider of neurology and pain management care throughout Tallahassee and the surrounding North Florida region. The physician-owned practice includes six physicians, 11 ARNPs and more than 80 employees across three locations.
As patient demand continued to grow, the practice needed to expand its ancillary location to support continued growth. The physician owners were faced with funding the expansion themselves or taking on additional debt, either of which would place greater financial strain on the owners and the practice.
ERE was engaged to represent the physician owners and develop a strategy that would fund the expansion while unlocking the value of their real estate. ERE structured a sale-leaseback of the practice’s main and ancillary locations, allowing the physicians to convert their real estate equity into liquidity while continuing to operate from the properties under long-term leases.
ERE then conducted a competitive marketing process that generated more than six offers. In addition to evaluating pricing, ERE considered each buyer’s ability and willingness to support the practice’s future growth. Ultimately, ERE secured a buyer that paid a premium for the portfolio and committed to funding the expansion of the ancillary location. The transaction provided the physician owners with a liquidity event, eliminated the need to fund the expansion with their own capital and established a long-term real estate partnership aligned with the practice’s continued growth.
The transaction was led by Collin Hart and Andy Matti.
