Lima, Ohio – February 13th, 2024 – Crown MedRealty Partners (“CROWN“), a premier healthcare real estate firm headquartered in Kansas City, Missouri, is pleased to announce its recent acquisition of a physician-owned, two-tenant, gastroenterology medical office building (“MOB”) and ambulatory surgery center (“ASC”) in West Central Ohio.
Located in Lima, Ohio, the 18,814 square-foot facility is fully occupied by Gastro Health (Formerly Gastro-Intestinal Associates, Inc.) and The Endoscopy Center of West Central Ohio (“ECWO”), the regional leaders in gastrointestinal disorders, nutrition, and digestive health. Designed and built with a specific focus on serving a wide commuter demographic beyond Allen County, the center is equipped with advanced, state-of-the-art medical equipment and performs over 11,000 procedures annually.
“This is an outstanding asset that has the key attributes we seek as medical real estate buyers,” said Chris Nordstrom, Vice President, Acquisitions at Crown MedRealty Partners. “Continuing the strong pace we set in late 2023, we’re enthusiastic to kick off 2024 with this acquisition and enter into a long-term partnership with such respected provider groups.”
As part of the transaction, Crown facilitated a physician co-investment, allowing some of the Selling partners to retain an ownership position in their real estate while others cashed out.
“It is our honor to welcome our new physician equity partners to the Crown family. We are always thrilled to see our physician partners remain dedicated to their real estate space,” said Brian Beggs, Chief Investment Officer, and Managing Partner at Crown MedRealty Partners. “Allowing the sellers to either remain as co-owners or to cash out in the most tax-efficient manner showcases our commitment to providing personalized solutions for the unique and complex structures we’re presented with. Our approach is to be flexible, creative, and aligned with the interests of our physician partners, creating a winning combination for all involved.”
This acquisition marks the 20th medical office building Crown MedRealty Partners has acquired in Ohio.
About Crown MedRealty Partners
Crown MedRealty Partners, LLC, (“CROWN”) is a privately owned and vertically integrated commercial real estate firm who specializes and focuses exclusively on healthcare related real estate. Headquartered in Kansas City, Missouri, Crown provides its health system and physician partners with a full range of real estate services including investment and capital solutions, acquisitions, development, property sales, management and leasing. With north of $650 million in completed transactions of medical real estate to date, Crown’s managed portfolio presently includes 100+ properties totaling 1.5 million square feet and spans across 30 states nationwide.
As an industry leader in healthcare related real estate, we believe in thinking creatively, acting with integrity, adapting quickly, and taking a hands-on approach to every deal. If you would like to discuss your future partnership with CROWN, please contact our team at 816-878-6307
