Meridian ASC/MOB real estate sells for $6.8M
Meridian ASC/MOB real estate sells for $6.8M
A 21,000-square-foot ASC/MOB property in Meridian, Miss., recently sold for a premium value of $6.8 million.
Pain Concepts of Meridian, MS sold their property consisting of a freestanding Medicare certified two-operating room surgery center and medical office space to a Real Estate Investment Trust – in an all-cash transaction. The property, known as Total Pain Care, is the only free-standing surgical center dedicated to pain management in the West Alabama and East Mississippi area. The tenant signed a new long-term lease at closing of escrow. A recent appraisal valued the property at $4.475 million.
The owners were represented by ASC advisory firm ASCs Inc. and JH Winokur Inc., an ASC/MOB real estate expert and broker.
When asked why the selling price exceeded the appraisal, Mr. Jason Winokur, the broker who managed the transaction and brought the buyers, provided these six reasons:
“The timing of the sale took advantage of the following market conditions:
- Long term interest rates are falling, increasing the value of ASC/MOB real estate.
- There are more buyers looking to invest in quality ASC properties – it is a “seller’s” market
- With more buyers there is more competition to buy medical property and this results in higher prices and better terms
- Multiple offers are typically received from qualified buyers within 30-days of providing them
with a professional marketing package
- Jason Winokur, the nation’s leading ASC/MOB real estate expert and broker, prepares a professional marketing package and advises sellers on how to maximize the value of their property, and expertly manages the sale and negotiations to get the highest price.
- JH Winokur advises the sellers on how to take advantage of 1,031 exchanges to defer capital gains taxes.”
To learn more about ASCs Inc. visit www.ascs-inc.com or call 760-751-0250 (CA) or 203-733-8818 (CT)or contact JH Winokur Inc. at 914-997-9200 (NY) or visit their website www.jhwinokur.com
© Copyright ASC COMMUNICATIONS 2019.
Jim Freund, Senior Partner at ASCs Inc., will present the "Keys to Successfully Selling an Interest in Your ASC or your ASC/MOB Real Estate" at the ASCA 2020 Virtual Conference and Expo on July 9th. At some point virtually every ASC owner will consider selling an interest in their business and/or their real estate. Learn about current opportunities and trends, the challenges and [...]
Seven Common Mistakes Made by Sellers of ASC/MOB Real Estate Many ASC physician-owners who own their ASC real estate may be considering a sale/leaseback to provide liquidity and a source of capital during the current slowdown. Due to the long-term success and profitability of surgery centers, excellent credit history and rent coverage, and the likelihood that the ASC will remain in the same [...]
Many ASC physician-owners also own the underlying real estate and may not realize how valuable that property has become. Due to the long-term success and profitability of surgery centers, excellent credit history and rent coverage, and the likelihood that the ASC will remain in the same location for many years to come, ASC real estate has become increasingly attractive to real estate investors. [...]
For surgery center owners, at some point you will likely consider selling an interest in your practice, ASC and/or real estate. While the motivations are different for everyone, as are the expectations, there are certain aspects of any transaction that are vitally important to consider before you embark on the sales process. A is for AWARE. Be aware that while this is most likely [...]
A 21,000-square-foot ASC/MOB property in Meridian, Miss., recently sold for a premium value of $6.8 million. Pain Concepts of Meridian, MS sold their property consisting of a freestanding Medicare certified two-operating room surgery center and medical office space to a Real Estate Investment Trust - in an all-cash transaction. The property, known as Total Pain Care, is the only free-standing surgical center dedicated [...]
At the Becker’s ASC Review 25th Annual Meeting: The Business and Operations of ASCs, a seminar on How to maximize the value of your ASC/MOB real estate and defer taxes in a sale/leaseback was presented. Following are questions and answers from that seminar. Why sell and leaseback my ASC/MOB real estate? Many physicians who own their ASC/MOB real estate do not realize how [...]
Given that many physicians who have sold their ASCs to a strategic partner (ASC management company, hospital or private equity firm) have done so by themselves, physician-owners of ASCs may be interested in better understanding what goes into a successful transaction and what to look out for. Here, Jon Vick, founder and president of ASCs Inc., and Jim Freund, partner at ASCs Inc., [...]