Sold – McKinney, TX ASC to Private Investor in 1031 Exchange
Sold – McKinney, TX ASC to Private Investor in 1031 Exchange
January 25, 2022 — ASCs Inc. is pleased to announce the closing of an ASC real estate sale-leaseback transaction for the Wellness Ambulatory Surgery Center (WASC) located in McKinney, Texas. The newly constructed center is CMS certified, AAAHC accredited and credentialed for 23 hour stays to accommodate the majority of spinal, general surgery and vascular cases.
The state-of-the-art facility occupies 13,152 sf with 4 Operating Rooms, 1 Procedure Room and 20 pre-op/recovery beds with 5 overnight stay rooms. WASC, with 20 surgeon partners including spine, pain management, ophthalmology, general/bariatric surgery, Cath lab, vascular surgeries and podiatry, accepts Medicare and is in-network with all major commercial payers.
The center is strategically located in a growing area of McKinney, the largest city in Collin County and one of the top 10 fastest growing in economic growth in the Nation, and is 30 miles north of Dallas. Population within a 5-mile radius is 180,888 with 8% annual population growth and $120,352 average household income.
"One of the most important considerations for physician-owners of ASC real estate is the impact the sale, lease and rent rates will have on the on the total value of their assets, which in this case included interests in both the surgical facility and ancillary services," states ASCs Inc. founder and Managing Partner Jon Vick. “In this instance, the physician-owned real estate transaction required no changes to the existing lease and rent payments, so there was no change in the financial performance of the ASC”.
Many ASC owners are considering the sale-leaseback of their ASC real estate to provide liquidity, diversify their assets, or simply to take advantage of the high premium prices medical real estate buyers are paying for quality medical buildings under long-term leases. The Wellness Ambulatory Surgery Center real estate was sold to a private investor in a 1031 exchange.
About ASCs Inc. (www.ascs-inc.com)
For over 20 years the industry-leading team at ASCs Inc. has represented the best interests of physician-owners of more than 300 surgery centers, surgical hospitals and group practices. We have enabled our clients to realize maximum value for their assets, either from a strategic perspective or for their real estate.
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