CLEVELAND, Jul 14, 2021 / PRNewswire / – Provider Real Estate Partners, a dedicated real estate investor for medical offices nationwide, has completed the acquisition of two medical office buildings in St. Little River, South Carolina and Las Cruces, New Mexico. The property offers a total of 28,899 square feet that are rented by top urology and gastroenterology specialists in their markets. The deals are Provider Real Estate Partners’ first deals in its founding fund.
“We are delighted to announce our first two property acquisitions,” he said. Joe Boehm, General Director of the Provider. “Both deals fully meet our investment criteria, offering high quality properties in markets with strong growth and demographics, backed by strong surgical tenants.”
The 15,455 square foot medical office Little riverAtlantic Urology provides clinical, imaging and pathology services. Atlantic Urology has eight offices throughout Myrtle beach, one of the fastest growing markets in the country, employing over 160 people and owned by GenesisCare, the largest radiation oncology provider in the United States.
The 13,444 square foot Lohman Endoscopy Center is home to Las Cruces Digestive Diseases Consultants, the only gastroenterologists practicing at Memorial Medical Center and MountainView Regional Medical Center, the dominant health centers in Las Cruces. The complex includes medical consulting rooms for gastrointestinal diseases and an endoscopy center, a partnership of medical practitioners and LifePoint Health, which operates more than 85 healthcare facilities in the country.
In addition, Dr. Glenn Gangi Atlantic Urology has decided to reinvest part of its Little River property in Provider Real Estate on a tax-deferred basis, an option the provider is offering to real estate doctors.
“We are very pleased that Dr. Gangi has decided to become a partner of our foundation,” said Bob O’Brien, Financial Director of the Provider. “His investment brings us even closer to our tenant and gives Dr. Gangi the opportunity to diversify his investment in medical office real estate with a portfolio of high quality tax deferred real estate.”
About the Provider Real Estate Partners
Provider Real Estate Partners is Cleveland, Ohio, an investor in medical office buildings throughout the United States. We have an experienced team of real estate professionals committed to partnering with doctors to maximize their medical office investment, optimize their operations and plan for further growth. www.providerrep.com
Joe Boehm IV
SOURCE Provider Real Estate Partners