Matthews, a commercial real estate investment services and technology firm, facilitated the sale-leaseback of a nine-property medical office portfolio across Atlanta and northern Georgia. Moreover, the firm said the deal marked the highest sale price for a privately owned medical office sale-leaseback portfolio in the state within the last year.
The 92,200-square-foot portfolio was owned by Said Elshihabi, MD, founder of Legacy Brain & Spine. The transaction allows Dr. Elshihabi to retain long-term operational control of the facilities through a long-term triple-net lease structure, according to a May 8 news release.
Matthews represented the seller in the transaction. Brokers Ryan Burke, Rahul Chhajed and Michael Moreno led the deal.
The portfolio includes surgery centers and properties with multiple subtenants. The buyer was attracted to the tenancy structure and completed the acquisition within 45 days.
Reliant Net Lease acquired the portfolio as part of its strategy to expand its healthcare real estate holdings.
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