ERE Healthcare Real Estate Advisors (“ERE”) is pleased to announce the successful sale of a 13,957-square-foot multi-specialty ambulatory surgery center located in Mesa, Arizona.
Surgery Center of Gilbert (SCG), now Banner Surgery Center – Gilbert, was founded in 2002 and has become a trusted outpatient surgical provider in Mesa, a suburb of the greater Phoenix metropolitan area. The purpose-built, multi-specialty ambulatory surgery center supports a broad range of outpatient procedures with 21 performing practitioners, five operating rooms and a support staff of more than 40 employees, and it has built a strong reputation in the East Valley.
The physician partners owned both the ambulatory surgery center and the real estate it occupied, and they were in the process of divesting the ASC operations. Because the lease tied the two assets together, it had to be attractive to the incoming operator while protecting the value of the real estate the physicians had developed. With both assets central to their retirement plans, the physicians could not risk a lease that weakened the value of either one.
ERE was engaged as the exclusive real estate advisor to the physician ownership group, leading both the lease negotiations and the sale of the property. Once Banner Health was selected as the buyer of the ASC operations, ERE negotiated a long-term lease that balanced the needs of the physicians, the operator and the future property owner, creating the stable income profile healthcare real estate investors seek.
With the lease in place, ERE ran its confidential, nationally marketed call-for-offers process, which generated more than 10 offers. The Banner Health affiliation and the property’s location in one of Arizona’s most active healthcare markets drew strong investor interest. Drawing on its experience and conversations with bidders throughout the process, ERE recommended a buyer that paid a premium and closed on an accelerated timeline. The transaction gave the physician partners a full exit from both assets to support their retirement, with an outcome that satisfied all parties.
The transaction was led by Collin Hart and Andy Matti.
