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Florida & Gulf Coast  + Central Florida  + Healthcare  |  January 3, 2022
115 Highland Avenue medical building in Largo, FL
Lisa McDuffie
By: Lisa McDuffie

Matthews Closes Two-Property MOB Portfolio Deal in Tampa

Matthews Real Estate Investment Services has completed the sale-leaseback of a two-unit portfolio, free-standing Bay Dermatology and Cosmetic Surgery centers in Largo and Spring Hill, FL. The total transaction closed at $7.5 million.

Each property featured a new 15-year absolute triple-net lease guaranteed by Bay Dermatology & Cosmetic Surgery.

Matthews represented the seller, owners of the Bay Dermatology practice, who were looking to monetize their real estate assets. Acccording to the firm, the sale-leaseback allowed them to take advantage of the current real estate market while simultaneously securing their practices’ locations for the next several decades.

“Our clients were ready to capitalize on the current healthcare real estate market by utilizing the sale-leaseback strategy,” said Matthews’ Pedrum Lavassani.

The buyers, Cornerstone Properties and KKR, recently entered a joint venture to acquire a portfolio of diversified healthcare properties across the US.

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Inside The Story

Matthews’ Lavassani

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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