Flint, Michigan — June 10, 2022—Crown MedRealty Partners (“CROWN”), an outpatient healthcare real estate firm headquartered in Kansas City, MO, and Leawood, KS based Prevail Innovative Real Estate Opportunities (“Prevail”), has announced its acquisition of a multi-specialty medical office portfolio in the Southeast-Michigan region.
Consisting of 49,021 square feet, the three 100% occupied medical office buildings (“MOBs”) are located throughout the Flint metropolitan area and are anchored by Michigan Health Specialists (“MHS”), who account for 34,064 square feet of the total portfolio and Hurley Medical Center (“Hurley”) who occupies the remaining 14,957 square feet.
The sale-leaseback transaction was completed with the physician owner’s at MHS, who retained 20% ownership in their properties as they focus on the growth of their practice. Together the two tenants combine a wide array of healthcare services including Primary Care, Internal Medicine, Pediatrics and Family Care, Pain Management, walk-in Urgent Care services, and a Pharmacy serving those located throughout the Southeast and Mid-Michigan region.
Michigan Health Specialists, which has over two decades of relationship-based patient care, has become the largest primary care practice in Genesee County completing over 50,000 outpatient appointments serving 12,000 unique individuals a year. With four (4) clinics and strategic affiliations with Hurley Medical Center, McLaren Regional Medical Center, and Genesys Regional Medical Center, MHS is the dedicated provider of accessible and affordable healthcare in the region.
Hurley Medical Center, a comprehensive healthcare system which leases the remainder of the space, has served the Genesee, Leeper, and Shiawassee counties in eastern Michigan for over a century. Today, Hurley provides advanced specialized health care to over 100,000 patients annually across a network of state-of-the-art facilities. In addition to being the region’s established leader in advanced clinical care, Hurley and their 457-bed teaching hospital is widely regarded as the premier, non-profit educator of tomorrow’s professionals with its university affiliations, including Michigan State University and the University of Michigan.
The Michigan Health Specialist Portfolio marks the second partnered acquisition between the Crown and Prevail teams. “After our success on Edgewood Surgical Center earlier this year, we were eager to find our next venture together,” said Brad Clark, Managing Partner of Prevail Innovative Real Estate Opportunities. “We look to find sponsors that are proven experts in their specific real estate discipline to provide our clients with vetted private real estate investment opportunities. Brian Beggs and his team at Crown MedRealty Partners is exactly that and brings with them a highly experienced, best-in-class asset and management team to oversee the assets. We each share the unique investment approach of investing our own capital alongside our clients too, which we believe aligns our interests and makes for a winning combination for all of our investors.”
“We like to say at Crown that we will go to any market to support our physician partners with their real estate needs and adding these exceptional assets to our portfolio is a testament to that,” said Brian Beggs, Managing Partner at Crown MedRealty Partners. “Everyone deserves access to first class healthcare, in first class facilities and while others may have shied away from this deal’s location and stuck to their top-25 primary market criteria, Crown viewed this as an opportunity to partner with an established healthcare provider who is revered within their community. We couldn’t be more honored to have been selected by Dr. Suaza and his team as their trusted real estate partner, but we are even more excited to be a part of where this next chapter takes them.”
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 90 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
About Prevail Innovative Real Estate
Prevail Innovative Real Estate Opportunities joins the Prevail Innovative Wealth Strategies and Prevail Innovative Wealth Advisors divisions growing the number of advisors to over 80 since its launch in 2017. Prevail brings an innovative approach to wealth creation by challenging the financial industry status quo and returning control back to clients. With an emphasis on creating wealth, Prevail’s strategies allow clients to keep more of what they accumulate versus performance leakage from taxes, fees, poor performance, or lack of diversification. Headquartered in Leawood, KS, the team at Prevail has continually proven their expertise in helping clients enjoy financial freedom. To learn more, visit www.prevailiws.com or call (913) 295-9500