Hammond Hanlon Camp LLC Advises on the Sale of 3-Building Massachusetts Medical Office Portfolio

posted on Aug. 21, 2019

 

SAN DIEGO — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to a privately owned healthcare real estate investment company on the sale of a three-building medical office portfolio located in Springfield, Mass. (the “Pioneer Portfolio”). 

 

The Pioneer Portfolio consisted of three outpatient facilities that were 95 percent leased overall and anchored by Pioneer Spine and Sports Physicians, the largest sports medicine physician group practice in the Western New England region. The price totaled $12.15 million, or $332 per square foot.

 

H2C conducted a thorough marketing process for the portfolio that resulted in numerous offers and maximized the value of the assets through multiple bidding rounds. The transaction successfully closed 125 days following the formal marketing commencement, demonstrating a highly efficient marketing and transaction process. 

 

“We were pleased to help our client realize the significant value it created in this portfolio. The market responded favorably to the portfolio’s income stability and strategic value to its tenants in a high barrier-to-entry market,” said John Nero, Director, H2C. Email John.

 

An H2C team headed by John Nero and Matthew Tarpley, Vice President, led the transaction.