ABOUT THE BOLDT COMPANY
The Boldt Company is a fourth-generation, family-owned construction services and development company established in 1889. Based in Appleton, WI, Boldt employs over 365 professionals in offices throughout the country and consistently ranks among the nation’s 100 largest construction and development firms. Boldt has specialized in development and construction of healthcare properties for over 50 years.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers & acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, go to h2c.com
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Dara Litwin
Hammond Hanlon Camp LLC
212.257.4527
dlitwin@h2c.com
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Hammond Hanlon Camp LLC Structures Joint Venture for Healthcare Real Estate Developer Boldt Holdings LLC
posted on February 19, 2014
CHICAGO – Hammond Hanlon Camp LLC (H2C), through its wholly owned subsidiary H2C Securities, Inc., served as the exclusive financial advisor to Boldt Holdings LLC (Boldt), the real estate development arm of national construction services firm, The Boldt Company, with respect to the recapitalization of a 95,043 square foot medical office building located in the greater Chicago area.
The fully leased, Class A medical office building is connected to the 353-bed Advocate Sherman hospital (the “Hospital”) in the Chicago suburb of Elgin, IL. The facility, completed in 2010, was developed and owned by Boldt along with physician investors. Boldt also served as the fee-for-service developer of the Hospital, which opened simultaneously with the medical office building. H2C was engaged to identify a joint venture partner to recapitalize and share in the ownership of the property, while maintaining Boldt as the day-to-day manager.
“Boldt Holdings is positioned among an elite group of healthcare-focused developers that are transforming the traditional healthcare facility design models with designs that respond to the unique challenges the healthcare industry faces in the era of reform,” said PJ Camp, Principal of H2C. “Its clients are well served by Boldt’s creative approaches and extensive experience in the healthcare space.”
“The Advocate Sherman medical office building is typical of the Class A properties that Boldt develops and is representative of the deep collaboration between Boldt and its health system clients,” said Jay Miele, Managing Director of H2C.
Following a thorough marketing process where numerous investors were contacted by H2C on behalf of Boldt, a private capital source was selected as the joint venture partner for the medical office building recapitalization and potentially future developments. The recapitalization of the existing medical office building closed on December 31, 2013.
“Our decision to work with H2C came at an inflection point in Boldt’s growth,” said Jim Kleinfeldt, President of Boldt Holdings LLC. “Such an important point in our evolution required an advisor that fully understood both our company and the healthcare industry. H2C is a leader in the healthcare real estate space and expertly guided the engagement to a successful execution.”