Our team takes pride in advising healthcare providers that both own and practice out of their facilities. A majority of our transactions have involved advising physician partnerships on sale-leaseback transactions.
We recently represented a group of 25 plus physicians associated with Physicians’ Primary Care of Southwest Florida on the sale and leaseback of six single-tenant medical office buildings totaling 81,541 square feet throughout southwest Florida. PPC executed brand new 10-year leases at each location upon close of escrow. Those leases accounted for two percent annual rental increases, minimal landlord responsibilities, and provided the tenant three, five-year options to renew.
Four properties are located on Viscaya Parkway in Cape Coral which is located six-tenths of one mile from Lee Memorial’s Cape Coral Hospital. The two remaining properties are located in Fort Myers on Park Royal Drive and Camelot Drive. The Fort Myers – Park Royal Drive building is located seven-tenths of mile from Lee Memorial’s HealthPark Medical Center. The Fort Myers – Camelot Drive building is situated less than six miles from each Lee Memorial Health System owned facility.
Physicians’ Primary Care of Southwest Florida (PPC), a physician-owned and operated medical practice, was formed in 1996 by several of the area’s best-known independent physician groups with the mission of being the premier multi-specialty group in Southwest Florida. It has become the largest independent multi-specialty primary care practice in Southwest Florida. Specialties include family practice, internal medicine, obstetrics and gynecology, and pediatrics. Offices are conveniently located throughout Fort Myers, Cape Coral and Lehigh Acres.
Seller Profile: Independent Multi-Specialty Medical Group – Southwest Florida
Buyer Profile: Full-Service Commercial Real Estate Company – Kansas City, Missouri
Lender Profile: Family-Owned, Community Bank – Overland Park, Kansas