10-Property Dental Portfolio

 

INDIANA AND MICHIGAN— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the 10-property sale leased to 42 North Dental. First Vice Presidents and Senior Directors Michael Moreno, Rahul Chhajed, and Associate Vice President Thor St John represented the seller in the transaction.

 

The properties feature an absolute NNN lease, corporate guaranty from 42 North, and a strong rental increase structure, making them ideal assets for any high-quality portfolio. The sale consisted of five individual property sales and the remaining as a portfolio, achieving the largest on-market dental transaction of the year, according to CoStar.

 

Matthews™ generated over 30 competitive offers from both institutional and private buyers and closed the properties in six different transactions that made up the 10-property sale which maximized the seller’s proceeds.

 

“We were able to achieve top-of-market pricing with buyers that locked in rates prior to recent interest rate hikes,” said Moreno.

 

The dental properties are located across Michigan and Indiana, offering buyers an asset with stable cash flow and long-term financial success.

 

“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,” said Chhajed.

 

“The utilization of Matthews™ technology and our combined databases allowed us to reach a large scale of buyers from private investors to institutional buyers,” said St John. “Selling the properties in a portfolio allowed us to leverage the market and achieve record pricing, exceeding our client’s expectations.”

 

Over the past 18 months, Matthews™ Healthcare Division has sold over 200 medical facilities across the country, totaling over $1.35 billion in sales volume.

 

For more information or to contact the Matthews™ Healthcare Division, please visit https://www.matthews.com/services/investment-sales/healthcare/.

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.