HFF handles sale of two medical office buildings for $34.4 million

 

 

Mount Kisco, NY Holliday Fenoglio Fowler, L.P. (HFF) handled the $34.4 million sale of two hospital and surgery center-anchored medical office buildings totaling 107,536 s/f on behalf of a global investment advisor. The properties are: Crozer-Keystone Medical Office and Surgery Center in Havertown, Pa. and Caremount Medical Imaging and Surgery Center. 

The HFF team marketed the property on behalf of the seller in a process that yielded nine offers, and sold the assets to two separate buyers, Anchor Health Properties and Hammes Partners. The HFF investment advisory team representing the seller consisted of senior director Ben Appel, senior managing director Jose Cruz, managing director Evan Kovac and associate Matt DiCesare along with senior managing director Andrew Scandalios.

Located at 34 South Bedford Rd., CareMount Medical occupies the entire 38,799 s/f facility under a recently extended long-term lease.

The Crozer-Keystone Medical Office and Surgery Center comprises two buildings totaling 68,737 s/f. The 92.5%-leased facility is anchored by Crozer-Keystone Health System.  

The 2.28-acre site is situated at 2010 and 2050 West Chester Pike in the suburban Philadelphia community of Havertown.  This campus has excellent visibility on Route 3, immediate access to 476, and is proximate to Interstates 76 and 95, the Pennsylvania Turnpike and U.S. Route 1, making the property highly accessible by patients throughout the region. 

“CareMount is the largest private multi-specialty physician group in the state of New York,” Appel said.  

“Extremely well capitalized and highly profitable, CareMount is a stable anchor tenant,” Cruz said. “The property sits within CareMount’s largest geographic concentration of outpatient facilities, which help to drive high patient volumes at the MOB.”  

“The wide array of medical services offered at the Crozer-Keystone Medical Office and Surgery Center provide a strong and consistent back and forth referral pattern leading to high patient volume,” Appel said. “Services include general surgery, radiation oncology, anesthesiology, ENT, gynecology, pain management, orthodontics, orthopedics, plastic surgery, podiatry, urology, ophthalmology, lab and gastroenterology.”