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| Mindy Berman |
BOSTON, MA – JLL announced it has closed the $142.9 million sale of a 50-property national investment-grade portfolio totaling approximately 430,000 square feet across 22 states.
JLL represented the seller, Elliott Bay Capital Trust, and procured the buyer, a publicly traded REIT.
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| Peter Bauman |
The net lease properties are 100 percent occupied and backed by investment grade credit or New York Stock Exchange public companies.
Well located across 22 states in desirable major U.S. metro areas, the properties have mission critical infrastructure providing life sustaining dialysis treatment.
The significant investment in the fit out at these locations and arduous Medicare certification and state licensing creates high retention rates and long-term, inelastic tenancy – one of the main drivers for dialysis clinic investment.
The significant investment in the fit out at these locations and arduous Medicare certification and state licensing creates high retention rates and long-term, inelastic tenancy – one of the main drivers for dialysis clinic investment.
Dialysis remains a fundamental and non-discretionary segment of healthcare services that has a long-term trajectory of growth and profitability regardless of the macroeconomic environment.
This sale is the result of a highly collaborative effort between JLL’s Healthcare, Corporate Finance and Net Lease verticals.
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| Tivon Moffitt |
The broader team construct is the backbone of the JLL Capital Markets business and is illustrated by putting the best team on the field to execute for the client.
The most basic and obvious opportunity to add value to clients is to bring intelligence from multiple businesses in an effort to offer creative and best in class transactions.
The team was led by Managing Director Mindy Berman, Senior Vice Presidents Peter Bauman and Tivon Moffitt and Vice President Brannan Knott.
Knott, from JLL Capital Markets, Healthcare, described the portfolio as, “a rare, highly durable income portfolio, tenanted by the nation’s leading dialysis providers.
This is the exact investment profile attracting many investors into this sector and is supported by macro demographic trends of the nation’s aging baby-boomers and increased incidence of end-stage renal disease driving significant increases in dialysis demand for the foreseeable future.”
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| Brannan Knott |
“Due to the portfolio mix of investment-grade and high-quality dialysis clinics, JLL was able to achieve excellent pricing for the seller with an accelerated closing time period,” Bauman said.
“Single-tenant medical properties and portfolios remain in high demand across various capital sources,” Moffitt added.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
Contact:
Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 848 1572
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