Matthews™ Closes $49.5M V.A. Center Portfolio After Competitive Bid for Listing

Cleveland, OH – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, sold a four-property Veteran Affairs Center portfolio. Two of the properties are in Akron, OH, one is located in Canton, OH, and the fourth is located in Parma, OH.  Matthews™ Senior Associate Kyle Mackulak, and Vice President and Senior Directors Rahul Chhajed and Michael Moreno transacted the deal. 

 

Matthews™ represented the seller, who was motivated to sell the assets to reduce the number of management responsibilities in their portfolio. Showcasing the value of the firm’s technology and robust network, Matthews’ brokers surpassed competition to earn the portfolio listing.  

 

“Our client had previous relationships with several well-known brokers vying for the listing,” Mackulak said. “By presenting Matthews’ powerful shared database and extensive healthcare track record, we won the business and moved forward with finding the best buyer for the portfolio.” 

 

The buyer, sourced through the Matthews™ database, is one of the top buyers in the U.S. for properties leased to the V.A. The buyer acquired the properties because all fit their acquisition criteria. 

 

“To ensure our client received maximum value, we sourced a buyer that was credible and highly experienced,” Moreno said. “This allowed us to present a great offer before even listing the property and close with the first buyer that came under contract providing for a quick close.”

 

Matthews™ adapted to challenges presented during the transaction process, managed expectations, and offered alternative solutions.

 

“This closing was unique in that it originally started as a four-property portfolio before separating to address title issues,” Chhajed said. “Using industry knowledge and prior experience we solidified a win-win scenario for all parties involved.”

 

The healthcare portfolio is one of the latest closings from Matthews™ Healthcare Division. The Matthews™ Healthcare Division has completed over 570 transactions and $1.2B in volume as of Q2 2021.

 

For more information or to contact Kyle Mackulak, Rahul Chhajed, and Michael Moreno visit, www.matthews.com.

 

About Matthews™

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 11 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.