Atlanta, GA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate brokerage firm, completed the $11.3M sale of LaGrange Med Ventures, LaGrange’s newest and largest medical office building, located at 1075 Lafayette Parkway. The deal was transacted by Associate Ryan Burke and Vice President and Senior Directors, Rahul Chhajed and Michael Moreno.
The seller, found through Matthews’ comprehensive shared database, was looking to benefit from a master-leased sale leaseback to maximize the property’s value. Matthews™ agents structured the deal to source a viable buyer and streamline the closing process, ensuring the seller’s satisfaction.
“We faced several challenges during this deal due to the highly active real estate market, including the sourcing and scheduling of surveyors and inspectors, in addition to consolidating and coordinating various lenders, exchange intermediaries, and all parties in the transaction,” Burke said. “We were able to overcome those challenges by using creativity and adaptability and see the deal through.”
The buyer, an out-of-state investor wanting to complete a 1031 Exchange, was able to successfully exchange their full investment amount, while avoiding property management responsibility through the NNN master lease.
“The buyer’s exchange time perfectly aligned with the timeline of this deal,” Moreno said. “We were happy to complete a sale where both the buyer and seller walked away with positive outcomes.”
This sale is an example of the large influx of out-of-state buyers looking to invest outside of their state of residence to take advantage of differing tax policies and sale leasebacks.
“Healthcare real estate offers both sellers and buyers opportunities that are unique to itself, such as sale leaseback opportunities and safe acquisition targets. Demand has reacted well post-COVID-19 and we expect this trend to last when comparing it to other office sub-sectors,” Chhajed said. “As experts it’s our job to educate clients and potential buyers of these opportunities, and in this case, we were able to unlock capital for owners via a master-leased sale leaseback.
Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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