Transaction Included Numerous Properties
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $8,817,500 portfolio sale of Emory clinics in LaGrange and West Point, GA. Senior Associate Ryan Burke, along with First Vice President and Senior Directors Michael Moreno and Rahul Chhajed represented the seller in the transaction.
The seller, Church Street Realty Company, received a beneficial price and relinquished all properties within one sale. The buyer, a real estate investment trust, achieved their goal of acquiring a portfolio of medical office buildings with credit tenant health systems in a growing market. The buyer received a favorable cap rate and acquired the portfolio while the tenant exercised an early lease extension.
The seven-property portfolio includes Emory at LaGrange-Clark Holder Clinic, located at 303 Smith Street, which is one of the largest Emory clinics outside of the Atlanta MSA. The other locations include 304 and 200 Smith Street, 304 and 306 North Greenwood Street, 303 North Lewis Street, LaGrange, GA, and 1610 East 10th Street, West Point, GA.
“We capitalized on our combined databases to source an experienced buyer that was able to move along the process swiftly by communicating with the hospital tenant and get the deal done promptly,” said Burke.
Emory at LaGrange Clinic is a subset of Emory Healthcare, an Atlanta-based healthcare system with 10 hospitals and over 250 provider locations across Georgia.
“Our product expertise, attention to detail, and persistence allowed this deal to happen. This deal required specific comprehensive knowledge of healthcare real estate to execute,” said Chhajed.
“This deal had some complexities due to multiple properties and the overall size of the tenant, but both clients were satisfied with the outcome, and we were able to see it through to the end,” said Moreno.
For more information, or to contact Ryan Burke, Michael Moreno, or Rahul Chhajed, please visit www.matthews.com.
Matthews Real Estate Investments 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. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 15 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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