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Sunny Days and Seniors Draw Alliance Consolidated Group into $9M Buy of Dermatology MOBs
Alliance Consolidated Group of Companies has completed the $8.6-million acquisition of a portfolio containing four net-leased medical office buildings in western Central Florida. The four total 25,483 square feet:
- 1450 6th St. SE, Winter Haven
- 421 Linden Lane, Lake Wales
- 927 U.S. Highway 41 South, Inverness
- 6020 Park Blvd., Pinellas Park
Alliance purchased the properties from Florida Dermatology and Skin Cancer Centers as part of a sale-leaseback deal. The acquisition is the second made by Alliance Medical Fund I, a $50-million equity investment vehicle that acquires net-leased medical and veterinary properties in high-growth markets across the US.
“Alliance attained the four top-performing locations of this market-leading tenant, allowing us to realize economies of scale in a growing area of central Florida,” said Ben Reinberg, founder and CEO of Alliance. “With an average of 237 days of sunshine each year, and the highest percentage of senior citizens in the US, FL has exceptionally strong demand for dermatology services.”
Alliance Medical Fund I is expected to invest approximately $150 million in debt and equity over the next two years, prioritizing investments across the Sun Belt.
- ◦Sale/Acquisition
