Multi-Building Condominium Sale

Wyomissing, Pennsylvania

Description:  Zeustra represented an ophthalmology practice in the sale of their two-building medical real estate portfolio consisting of a 19,000 SF medical office and a 7,000 SF surgery center.  Given that both buildings were over 20 years old and one was a condominium, we had to get creative when identifying a buyer that could get comfortable with the underlying risk. After restructuring the leases to maximize the value of the portfolio, Zeustra was able to arrange the sale as a part of the initial IPO of a publicly traded REIT.

• Ophthalmology Practice
• Medical Office and Surgery Center
• 26,000 SF
• Condominium
• $9,300,000 Sale
• US REIT Initial Public Offering (IPO)
• Value Added: 7%
• 5-month marketing and sale process