Middletown, Ohio — July 21, 2022—Crown MedRealty Partners (“CROWN”), a leading healthcare real estate firm headquartered in Kansas City, Missouri, is pleased to announce its acquisition of a 11,000-square-foot medical office building (“MOB”) located at 200 North Breiel Blvd., Middletown, OH (“Premier II”). This latest addition to Crown’s portfolio concludes a two-phase, sale-leaseback transaction with Premier Orthopedics, an affiliate of Premier Health’s Physician Network.
The first phase of the transaction, a 16,365 square-foot medical office building located just up the road at 275 Breiel Blvd. closed earlier this spring on the same leaseback structure. Together, the two properties total 27,265 square-feet and are 100% occupied by Premier Orthopedics on new long-term triple-net leases. Premier Health is the largest comprehensive health care system in Southwest Ohio, with three acute care hospitals, an extensive network of physicians, numerous affiliate organizations, and more than 100 locations across seven counties.
Premier II is located at 200 North Breiel Boulevard, conveniently located in the city of Middletown, Ohio which is situated directly between the Dayton Metropolitan area and the Cincinnati Metropolitan area. With less than a 30-minute drive to either Dayton or Cincinnati, the property is strategically positioned to serve over 3-million residents that reside in the combined Cincinnati-Dayton MSA.
The team of advanced physicians at the Premier Orthopedic locations, provide patients access to comprehensive orthopedic and sports medicine care services. The wide array of multidisciplinary services includes bone, muscle, spine and joint care, physical therapy, MRI and urgent care, regenerative medicine, and pain management.
“This represented an excellent opportunity for us to acquire an additional property in the Dayton Metro area as well as grow Crown’s presence in the state of Ohio,” said Steve Bessenbacher, Managing Partner at Crown MedRealty Partners. “We are particularly pleased to continue our long-term relationship with such a prominent healthcare system like Premier Health. The aligned interest and relationship focused structure Crown brings to our physician partners is what sets us apart, and by delivering on our word we continue to see new opportunities like these where we can help these physicians build stronger practices for their patients.”
“From an efficient PSA negotiation through a timely and smooth due diligence process, Crown MedRealty delivered results exactly as they committed when presented the opportunity” said Mike Sullivan, Senior Director at Cushman Wakefield who represented the sellers in this transaction.
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 $600 million in completed transactions of medical real estate to date, Crown’s managed portfolio presently includes 80 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 816-412-8465.