Becker's ASC Review

56 TRANSACTIONS $17M medical office building, ASC sold in Florida By Patsy Newitt T wo affiliates of Montecito Medical Real Estate sold a two-story medical office building in Weston, Fla. for $17.2 million, The Real Deal reported Sept. 2. Weston Outpatient Surgical Center is located on the first floor of the 32,559-square-foot building. The deal was financed with a $22.3 million loan from BMO Harris Bank. Nashville, Tenn.-based Montecito Medical Real Estate also re- cently acquired a medical office building housing an ophthal- mology ASC in San Antonio, Texas. n 9 ASC acquisitions in August By Ariana Portalatin A roundup of ASC purchases making news in August: 1. An unnamed private equity group acquired a medical office building with the Kingwood (Texas) Endoscopy Center for $5.7 million. 2. Chandler, Ariz.-based Sonoran Desert Surgery Center was sold for $5.4 million. 3. An unnamed private equity group purchased a 19,035-square-foot ophthalmology clinic and ASC in Louisi- ana for $7.65 million. 4. Annapolis, Md.-based Vision Innovation Partners acquired Scranton, Penn.-based Northeastern Eye Institute, which includes 15 clinics and an ASC. 5. Chicago-based Pinnacle Dermatology acquired the Derma- tology Associates and Skin Surgery Center, which includes eight locations throughout West Virginia and Maryland. 6. The Wake Forest Baptist Health Surgery Center in Winston- Salem, N.C., was sold for $9.6 million in a deal facilitated by Fairfield Advisors. 7. Buffalo, N.Y.-based Catholic Health purchased a major- ity stake in Amherst-based Ambulatory Surgery Center of Western New York. 8. Real estate firm Sanders Capital Partners acquired a 9,200-square-foot ASC and leased it to Duluth, Ga.-based Prima Center for Plastic Surgery. 9. Cleveland Clinic purchased two medical office buildings with a surgery center in Port St. Lucie, Fla., for $52.5 million. n 63% of Q2 physician practice deals had private equity buyers By Laura Dyrda P hysician practice deals heated up in the first half of the year, with private equity firms driv- ing much of the activity. Bass Berry & Sims published a report in JDSupra, a legal analysis publication, outlining deals for the first half of 2021. Six things to know: 1. There were 163 physician practice deals in the first six months of the year. 2. Private equity firms were the buyer in 63 percent of the second-quarter deals. 3. Most of the private equity transactions were add- ons to existing platforms. 4. Thirteen percent of the deals were in high-de- mand practices such as dental, gastroenterology, ophthalmology and obstetrics and gynecology. 5. Waud Capital Partners-backed GI Alliance, and RiverGlade Capital-backed U.S. Oral Surgery Management are among the most prolific private equity buyers this year, with three and five deals an- nounced in the first half of the year, respectively. 6. Cano Health, a primary care practice operator, announced plans in June to buy Miami, Fla.-based University Health Care for $600 million in one of the highest-value deals so far this year. n Virginia medical office building, ASC sell for $52M By Patsy Newitt JLL Income Property Trust acquired a medical office building with an ASC in Richmond, Va., for about $52 million, the company said Sept. 16. The 87,000-square-foot medical office building houses Virginia Urology's ASC, imaging center and infusion lab. Virginia Urology employs 55 physicians and has six office locations in the Richmond area. n

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