(Carl Cronan is editor of Real Estate Florida.)
TAMPA, FL-Calkain Cos. is marketing a 16-property portfolio of medical office buildings scattered throughout seven states and valued at $20 million. The single-tenant, net lease portfolio is occupied by Kinston, NC-based Affordable Care Inc., a healthcare practice management services company that supports a network of affiliated dental practices providing removable prosthetics and related services.
"Medical office buildings operating as net lease investments are probably one of the most sought-after assets in today's market," says David Sobelman, Calkain's executive vice president in Tampa. Sobelman will serve as the sellers' representative along with Jonathan Hipp, president and CEO of Reston, VA-based Calkain.
"The amalgamation of a strong credit tenant, long-term leases and the stable medical industry leads this to be a truly unique portfolio in the current market," Hipp adds. "Bringing properties with an established cash flow and instant income to the market now is truly what investors nationwide are seeking."
Affordable Care's properties are located in Virginia, South Carolina, Texas, Ohio, Mississippi, Louisiana and Illinois. The assets can be purchased individually or together, Sobelman says.
Medical offices are garnering investor demand by showing considerable resistance to the ongoing economic downturn, according to the latest national office report by Marcus & Millichap. Much of that economic resilience can be attributed to the positive state of the health care industry, with medical spending reaching more than $2 trillion annually.
"Despite a recent slowdown in costly elective procedures, people continue to seek medical care for illnesses and preventative reasons, regardless of the recessionary climate," Marcus & Millichap states. Other factors pointed out by the firm include a nearly 20% increase in the 55-and-over US population over the next five years, as well as a shift to outpatient medical care.
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