Orlando Medical Office Portfolio Sells

Apr 01, 2018 No Comments by

Cushman & Wakefield has negotiated the sale of a Class A medical office portfolio for $16.2 million.

The portfolio consists of five buildings totaling 59,644 square feet, which are each 100 percent leased to a single, credit-rated Orlando-based health system.

Orlando-based Director Anne Spencer and San Diego-based Senior Director Travis Ives, both with Cushman & Wakefield’s Healthcare Advisory Practice, represented a private group of investors in the portfolio’s disposition. Spencer specializes in healthcare real estate services throughout Florida. She collaborated on this assignment with Ives, a member of the firm’s national Healthcare Capital Markets team.

The buyer is Global Medical REIT, which acquires healthcare assets throughout the United States, including several recent acquisitions in Central Florida.

 

“We implemented a controlled and competitive process that provided national exposure and secured multiple offers on this portfolio, including interest from a wide variety of investor types,” said Spencer. “Despite the challenge of some near-term lease expirations, our team successfully maximized value for the client with a strategic marketing campaign that brought the right buyers to the table and highlighted the positive attributes of the portfolio.”

The five properties were built between 2006 and 2008 and are located in strategic markets throughout the Greater Orlando region including Orlando, Lake Mary, Longwood and Ocoee. Each building is on a separate lease with staggered expirations.

 

“Our hybrid-team approach of combining local market expertise with national capital markets insight was the perfect formula for success on this assignment,” said Ives. “It’s a great example of the benefit of our firm’s collaborative platform to selling healthcare assets across the country.”

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