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A Smart Exit Strategy for Smaller Aging MOBs

Repositioning the property for condo-ization and including that option as part of the marketing package can help fill the gap created by renovation costs and interim lost rental income, HemphillSolutions' Ralph Hemphill tells GlobeSt.com.

By Carrie Rossenfeld | Updated on December 08, 2017

Ralph Hemphill Hemphill: “The condo option reduces purchase-price risk some, by giving the buyer three different exit strategies.”

SAN DIEGO—Repositioning smaller, aging medical-office buildings for condo-ization and including that option as part of the marketing package can help fill the gap created by renovation costs and interim lost rental income that often come with the process, HemphillSolutions senior advisor Ralph Hemphill tells GlobeSt.com.

Hemphill has more than 25 years of real estate experience that includes ground-up development, adaptive reuse/repositioning, portfolio management and advising businesses and hedge funds on all things real estate. After reading about ways to reposition larger aging MOBs, Hemphill spoke with us about an alternative solution for smaller buildings.

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