Fletcher Drive Medical Building and Endoscopy Center – Physicians Endoscopy
PRECAP’s managing principal represented eight separate condominium unit owners including Advocate Healthcare, the largest health system in Illinois. Prior to marketing, ownership was advised on structuring individual sale-leaseback transactions that allowed 100% of the building to be sold to one buyer. By agreeing to pursue a sale together, all the condo owners received a pricing premium due to the larger buyer pool that existed for the entire asset vs. individual condo units. The asset is 40,000 square feet and included a synergistic mix of tenants including a three operating room endoscopy center. The buyer was a private equity firm focused on healthcare real estate.
40,000 sq ft
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