Healthcare Realty Acquires $58M of Chapel Hill, Summerville Medical Assets

Healthcare Realty picked up a medical office building, an outpatient care facility in Summerville, SC, and a zoned parcel near that could accommodate another medical-related structure in Chapel Hill, NC. The seller was Hammes. The sales price was $56 million.

The Summerville properties include Summerville Medical Campus, a nearly 100,000-square-foot, multi-tenant MOB anchored by the Medical University of South Carolina (S&P, AA), and Charleston Surgery Center, a 22,261-square-foot ambulatory surgery center fully leased to a joint venture led by SCA Health (S&P, AA-). Together, the assets are 100% leased, with a weighted-average lease term of approximately 7 years and fixed annual rent escalations.

The collection also includes an approximately five-acre site at 5936 Farrington Road in Chapel Hill that is fully entitled for a six-story, 168,000-square-foot medical and office building with a structured parking garage.

Newmark’s Ben Appel,  Jay Miele, Justin Shepherd, John Nero, Michael Greeley and Ron Ott advised Hammes in the transaction.