Latest Insights

ASC Real Estate Sells for Above Appraised Value

November 11, 2021

Written by Jim Freund
ASCs Inc. Senior Partner

ASC Real Estate Sells for Above Appraised Value

November 11, 2021ASCs Inc. and JH Winokur, Inc. are pleased to announce the closing of an ASC real estate sale-leaseback transaction for the Freeman Health Surgical Center located in Joplin, Missouri.   The 17,400 square-foot center features four fully-equipped operating rooms, one swing room, and one procedure room with the latest medical instrumentation. The surgery center is equipped for general, gynecological, hand & microvascular, neurosurgery, orthopedic, otolaryngology, pain management, gastroenterology and urology surgical cases.

The property is on the campus of the locally owned, not-for-profit and nationally recognized Freeman Health System and includes Freeman Hospital West, Freeman Hospital East, Freeman Neosho Hospital and Ozark Center – the area’s largest provider of behavioral health services – as well as two urgent care clinics, dozens of physician clinics and a variety of specialty services.  U.S. News & World Report ranked Freeman No. 14 in the state for the seventh consecutive year and No 1 in Southwest Missouri.

The surgery center business is majority owned by Freeman Health.  With more than 300 physicians on staff representing more than 70 specialties, Freeman provides cancer care, heart and vascular care, neurology and neurosurgery, orthopaedics, children’s services and women’s services. Additionally, Freeman is the only Children’s Miracle Network Hospital in a 70-mile radius.

The physicians owned the real estate and the sale was made using the existing lease and rent so there was no change in the financial performance of the ASC,  "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.Managing Partner Jon Vick.  "Local real estate brokers simply don't have the knowledge, expertise or experience to address this during the sales process."

ASCs Inc. advised the sellers along with broker J.H. Winokur Inc.  The transaction resulted in a selling price that exceeded the seller's expectations and was well above the value of a recent bank appraisal.

Many ASC owners are considering the sale/leaseback of their ASC real estate to provide liquidity and a source of capital for diversifying their assets during periods when ASC income is impacted by unforeseen events, such as the COVID pandemic.

JH Winokur, Inc. (914-997-9200; www.jhwinokur.com) and ASCs Inc. (760-751-0250; www.ascs-inc.com) provide strategic partnering and ASC/MOB real estate advisory services to physician-owners of ASCs and medical real estate.

More Insights

National Management Company Purchases Modesto Surgery Center

February 15, 2022 — ASCs Inc. is pleased to announce that the physician-owners of the Modesto Surgery Center have sold the ASC to a national Surgery Center Management Company and a syndicated group of surgeons. The physician-owners of the single-specialty ASC were seeking an exit strategy and a buyer for the ASC business that could provide the resources needed to grow the center, [...]

February 15th, 2022|News, Strategic Partnering|

SOLD – Georgia Orthopaedic MOB/ASC Real Estate

February 9, 2022 — ASCs Inc. and JH Winokur, Inc. are pleased to announce the closing of a healthcare real estate sale-leaseback transaction for the Houston Orthopedic Surgery & Sports Medicine, Middle Georgia Orthopedics and Houston Orthopedic Surgery Center building located in Warner Robbins, Georgia. The 34,697 square foot building is home to the county’s dominant orthopaedic practices. The facility is home to an [...]

February 9th, 2022|News, Real Estate|

National Hospital System Acquires Northridge Surgery Center

February 1, 2022 — ASCs Inc. is pleased to announce the sale of the Northridge Surgery Center to a national hospital system that is focused on expanding its outpatient footprint to support their growth initiatives. The owners of the new multi-specialty ASC, with three operating rooms and located in a prime location in Northridge, CA, wanted to consider multiple options when it came [...]

Sold – McKinney, TX ASC to Private Investor in 1031 Exchange

January 25, 2022 — ASCs Inc. and JH Winokur, Inc. are 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 [...]

January 25th, 2022|News, Real Estate|

Newport Multi-Specialty Surgery Center sold to a Regional Healthcare Organization

January 19, 2022 — ASCs Inc. is pleased to announce the sale of Newport Beach Multi-Specialty Surgery to a regional surgery center management company that is focused on expanding its platform throughout Southern California. The multi-specialty ASC, with three full operating rooms, is located in a prime location in Newport Beach and has been operational for 20 years. The founding partner, who was [...]

January 19th, 2022|News, Strategic Partnering|

ASC Real Estate Sells for Above Appraised Value

November 11, 2021 — ASCs Inc. and JH Winokur, Inc. are pleased to announce the closing of an ASC real estate sale-leaseback transaction for the Freeman Health Surgical Center located in Joplin, Missouri.   The 17,400 square-foot center features four fully-equipped operating rooms, one swing room, and one procedure room with the latest medical instrumentation. The surgery center is equipped for general, gynecological, hand & microvascular, neurosurgery, orthopedic, [...]

November 11th, 2021|News, Real Estate|

How Much Is Your ASC Worth?

Learning your surgery center’s value can help with short- and long-term planning After ASC owners engage ASCs Inc. in Valley Center, California, to help facilitate a sale, the process they follow involves collecting significant due diligence material and developing a confidential information memorandum (CIM), says Jonathan Vick, the company’s founder and managing partner. This document shares financial and operational information about the ASC that is critically [...]

August 12th, 2021|Real Estate, Strategic Partnering|

ASCs Inc. Sells Southern California ASC and MOB for $4.6M

March 5, 2021 — ASCs Inc. and JH Winokur, the nation’s leading healthcare real estate team focused exclusively on outpatient surgical facilities and medical office buildings, is pleased to announce the real estate sale of a 15,000 SF MOB located in San Diego, CA. The two story building houses multiple medical offices along with a two room, single-specialty ambulatory surgery center The seller [...]

March 5th, 2021|News, Real Estate|

Stephanie Tarry Joins ASCs Inc. as Executive Vice President

San Diego, CA., February 3, 2021 – ASCs Inc., the nations’ leading firm focused exclusively on representing physician-owners who are selling an interest in their surgery center, surgical hospital, ancillary services and/or ASC/MOB real estate, today announced that Ms. Stephanie Tarry is joining their team as Executive Vice President. “Stephanie is a proven leader in the ambulatory surgery center and surgical hospital industry,” [...]

February 3rd, 2021|News, Real Estate|

ASC Real Estate Trends in 2020

Jon Vick, founding partner at ASCs Inc., and Jason Winokur, a healthcare real estate expert and broker and a partner at JH Winokur, Inc., sat down with Laura Dydra, the editor-in-chief of Becker’s ASC Review, to discuss what they are seeing today in the ASC real estate market. Click here to read the entire article at Becker's ASC Review. Topics include: What is [...]

November 1st, 2020|Real Estate|
Go to Top