Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Piedmont Physicians Pediatrics, located at 1500 Oglethorpe Ave Building 600, Athens, GA. The transaction was brokered by Associate Ryan Burke and Vice President and Senior Directors Michael Moreno and Rahul Chhajed.
The seller, a Matthews™ private client, aimed to sell the property via a 1031 Exchange to capture the high-value price points currently in the market and avoid the consequences of possible capital gains tax and policy changes. Utilizing their unique specialization in healthcare real estate, Matthews’ agents were able to source an experienced buyer.
“This sale presented some complexities in terms of being part of a medical plaza but by working closely with our client and understanding the nuances of the sector, we were able to move forward, find a reputable buyer, and execute a straightforward process,” Burke said.
The buyer, Global Medical REIT (GMRE), is a Maryland-based net-lease medical office real estate investment trust. The group was interested in the Piedmont facility to expand its portfolio in the area. The price point produced a favorable cap rate for the buyer.
“We’ve worked with GMRE previously, which allowed for a much smoother deal process.” Moreno said. “This sale was a perfect example of preparation meeting opportunity. The owner was motivated to sell and our specialization in the healthcare space allowed us to source the perfect buyer, off-market.”
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology 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 400 agents and support staff in over 13 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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