Middletown Medical Complex
In 2010, Lisa was approached to restructure and sell a medical office complex located on the satellite campus of Middlesex Hospital in Middletown, Connecticut. The ownership consisted of four separate physician partnerships as well as Middlesex Hospital, the dominant healthcare provider in the area. The Medical Complex consisted of two multi-tenant medical office buildings containing 64,000 sf, an Ambulatory Surgical Center containing 8,663 sf as well as the underlying 14 acres of land. All of the assets were required to be sold contemporaneously; if one deal failed, the entire sale would be scuttled. Several large real estate brokerage companies had previously listed the portfolio and had been unable to fully understand and resolve the issues preventing a sale.
Using her high level of brokerage expertise and legal skills, Lisa spent a year restructuring the portfolio and was able to:
Successfully juggle all of the various stakeholders
Renegotiate the underlying land leases
Bifurcate the transaction and sell the leasehold interest in the two multi-tenant medical office buildings to a major private equity healthcare real estate company
Negotiate the sale of the land, an Ambulatory Surgical Center and the ground lessor interests in an Outpatient and Cancer Center to the Hospital at an aggressive cap rate.
All 4 transactions were simultaneously successfully completed for a total purchase price of $17,250,000.