Matthews™ Successfully Executes Sale of Spokane Eye Clinic Portfolio in Washington

SPOKANE, WA—Matthews™, a commercial real estate investment services and technology firm, completed the sale of a four-property medical office portfolio located at 427 S Bernard St, 9651 N Nevada St, 31 E Central Ave, and 208 W 5th Ave in Spokane, Washington. Matthews™ Executive Vice President and Senior Directors Michael Moreno and Rahul Chhajed, and Vice President and Director Tyler Swade represented the seller in the transaction.

The Spokane Eye Clinic Portfolio totals approximately 72,000-square-feet and is fully occupied by Spokane Eye Clinic, a 28-physician practice with over 70 years of operating history supporting more than 146,000 annual patient visits and 13,000 surgical procedures. The clinic operates under PRISM Vision Group, a McKesson-backed national ophthalmology platform with over 100 affiliated locations, under NNN lease structures with 2.5% annual rent escalators.

The seller, a group of physician owners, elected to bring the portfolio to market to capitalize on the asset’s appreciation. Matthews™ ran a competitive marketing process, generating multiple offers from both institutional and private buyers. The Matthews™ agents closed the transaction with the first buyer to go under contract, an institutional healthcare investor looking to expand their national healthcare real estate portfolio. Through diligent management of the entire process, Matthews™ delivered top-of-market pricing for the seller while securing a high-quality institutional owner for the asset’s long-term stewardship.

“Our clients spent decades building one of the most respected ophthalmology practices in the Pacific Northwest, and it was our privilege to ensure that legacy was reflected in the outcome,” Moreno said. “The institutional interest we saw on this offering speaks to the strength of the operator and the growing appetite for healthcare real estate in markets like Spokane. Our expertise in selling healthcare assets leased to private equity-backed operators allowed us to find the best buyer for this transaction.”

“One of the key benefits of this transaction was that ownership was able to reinvest a portion of the proceeds with the institutional buyer, providing great alignment long-term,” Chhajed said.

For more information, please contact Michael Moreno, Rahul Chhajed, and Tyler Swade or visit www.matthews.com.

About Matthews™

Matthews™, 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 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.