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Matthews Finalizes Sale of Dental Property Portfolio Across MI, IN
Matthews Real Estate Investment Services completed the sale of 10 dental properties across Michigan and Indiana for an undisclosed amount. Senior directors Michael Moreno and Rahul Chhajed and associate VP Thor St. John represented the seller.
Leased to 42 North Dental, the properties feature an absolute triple-net lease, corporate guaranty from 42 North and strong rental increase structure. The sale consisted of five individual property sales and the remaining five as a portfolio, achieving the largest on-market dental transaction of the year, according to CoStar.
“We were able to achieve top-of-market pricing with buyers that locked in rates prior to recent interest rate hikes,” said Moreno.
Chhajed added, “The appeal of these properties is that they allowed buyers the opportunity to lock in long-term financing, acquire a lease with a strong tenant, competitive rent increases and long-term leases.”
- ◦Sale/Acquisition
