HFFS Advises on $1.25B Sale of 55-Building National Medical Office Portfolio
23 May 2019 - 6:20AM
Business Wire
HFF Securities, L.P. (HFFS) and Holliday Fenoglio Fowler, L.P.
(HFF) announced today that they have advised CNL Healthcare
Properties, Inc. on its $1.25 billion sale to Welltower Inc. of a
Class A medical office portfolio totaling 55 buildings across 16
states. HFFS was engaged in 2018 to act as a strategic financial
advisor in exploring and executing potential liquidity alternatives
for CNL Healthcare Properties.
The medical office portfolio comprises approximately 3.3 million
square feet across 16 states, positioned in strategic locations
within major metropolitan markets. The facilities are affiliated
with some of the nation’s premier health systems, including Novant,
Memorial Hermann and Cleveland Clinic.
In April, HFFS advised on the sale of four Inpatient
Rehabilitation Facilities (IRFs) for a total of $94 million, also
on behalf of CNL Healthcare Properties Inc. Global Medical REIT
Inc. was the buyer.
The HFFS team representing CNL was led by senior managing
directors Steve Hentschel and Ted Flagg as well as members of
HFF’s national medical office capital markets team, including
managing directors Evan Kovac and Ben Appel and directors Andrew
Milne, Zach Drozda and Anthony Frogameni.
“This is the second largest medical office portfolio sale to
ever transact based on total dollar volume,” said Milne. “The
high-quality portfolio primarily consists of properties positioned
in major markets and on campuses of leading U.S. healthcare
systems.”
“The CNL engagement demonstrates the broad strength of HFF’s
platform across REIT investment banking and medical office/seniors
housing capital markets advisory platforms,” added Flagg. “We are
proud to bring this all together with a great client such as
CNL.”
About CNL Healthcare
Properties
CNL Healthcare Properties, Inc., is a real estate investment
trust (REIT) that focuses on investing in institutional quality
properties in the seniors housing and healthcare sectors, including
stabilized, value-add and ground-up development assets, as well as
other income-producing properties, real-estate related securities
and loans. CNL Financial Group, LLC is the sponsor of CNL
Healthcare Properties. For more information, visit
cnlhealthcareproperties.com.
About CNL Financial
Group
CNL Financial Group (CNL) is a private investment management
firm providing real estate and alternative investments. Since
inception in 1973, CNL and/or its affiliates have formed or
acquired companies with more than $34 billion in assets. CNL is
headquartered in Orlando, Florida. For more information, visit
cnl.com.
About Welltower
Welltower Inc. (NYSE: WELL), an S&P 500 company
headquartered in Toledo, Ohio, is driving the transformation of
health care infrastructure. The company invests with leading
seniors housing operators, post-acute providers and health systems
to fund the real estate infrastructure needed to scale innovative
care delivery models and improve people's wellness and overall
health care experience. Welltower™, a real estate investment trust
("REIT"), owns interests in properties concentrated in major,
high-growth markets in the United States, Canada and the United
Kingdom, consisting of seniors housing and post-acute communities
and outpatient medical properties. More information is available at
welltower.com. Welltower routinely posts important information on
its website at welltower.com in the "Investors" section, including
corporate and investor presentations and financial information. The
firm intends to use its website as a means of disclosing material,
non-public information and for complying with its disclosure
obligations under Regulation FD. Such disclosures will be included
on its website under the heading "Investors." Accordingly,
investors should monitor such portion of the company's website in
addition to following company press releases, public conference
calls and filings with the Securities and Exchange Commission. The
information on Welltower’s website is not incorporated by reference
in this press release, and the web address is included as an
inactive textual reference only.
About HFF
HFF and its affiliates operate out of 26 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: https://www.businesswire.com/news/home/20190522005831/en/
TED FLAGGHFFS Senior Managing Director(212)
336-5482tflagg@hfflp.com
EVAN KOVACHFF Managing Director(206)
576-0050ekovac@hfflp.com
KRISTEN MURPHYHFF Director, Public Relations(617)
338-0990krmurphy@hfflp.com
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