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 our partner real estate expert and broker.
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
- We prepare 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.
- We advise 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).
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