Lee’s Summit, MO, March 23, 2023 — ASCs Inc. is pleased to announce the closing of a healthcare real estate sale and partial leaseback transaction for Midwest Physician’s Surgery Medical Office Building located in Lee’s Summit, Missouri.
The 20,000 square foot medical-office building is 100% leased to three tenants: Midwest Physician’s Surgery Center, Clay Platte Summit Family and Sports Medicine, and Midwest Gastroenterology. The three room surgery center is a partnership between the principals of Midwest Gastroenterology and USPI (Tenet Health). Clay Summit Sports & Medicine is part of largest medical group in the area. Midwest GI Health consists of Board Certified Gastroenterologists, Physician Assistants, and Nurse Practitioners who serve the Kansas City market.
As part of the transaction ASCs Inc. and JH Winokur, Inc. renegotiated the Clay Platte Summit Family primary medical clinic lease. Previously the lease had been a gross lease with the landlord being responsible for the tenants CAM, taxes and insurance. Successfully modifying the lease provided the buyer pool with the ability to accurately project their net income on a go forward basis. ASCs Inc. and JH Winokur, Inc. also proposed the terms of The Midwest Gastroenterology, which was also modified to be a NNN lease under the terms of a sale-leaseback. The lease modifications resulted in a higher NOI and sale price.
“The sellers had previously engaged with local brokers who quoted prices based upon the existing leases. By modifying the terms of the leases, we created a win-win which benefited both the tenants with a number of improved lease terms and the physician owner of the real estate, who achieved a significantly higher sale price,” states broker Jason Winokur, EVP of JH Winokur, Inc.
Many ASC/MOB owners are considering the sale-leaseback of their ASC real estate to provide liquidity, diversify their assets, help fund renovations or simply to take advantage of the high premium prices medical real estate buyers are paying for quality medical buildings.
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, group practices and surgical hospitals that have sold an interest in their business or real estate. ASCs Inc. enables clients to realize maximum value for their assets by positioning, marketing and managing the complex and time consuming sales process.