October 28, 2021—Kansas City, Missouri: Six months since the inception of Crown MedRealty Partners and the launch of the newly branded healthcare real estate investment firm, managing partners Stephen Bessenbacher and Brian Beggs say they are just starting to hit their stride, despite exponential growth throughout the second and third quarters of 2021.
“We knew going into the launch of Crown Med Realty Partners that we had a number of promising medical office building acquisitions in the pipeline.” says Managing Partner and COO Stephen Bessenbacher, “what we have seen over the last six month is not only those acquisitions coming to fruition, but a flurry of additional acquisitions that have really catapulted us beyond expectations as we look to close out 2021.” Both Bessenbacher and Beggs are veterans in the healthcare and commercial real estate sector, so this fast-paced start comes as no surprise. The team has overseen the acquisition of over 225,000 square feet of medical office space, at nearly $106,000,000 in the second and third quarter of this year.
From June to October, Crown MedRealty Partners closed on a total of 15 medical office building, from the east coast to the Midwest. The acquisitions kicked off with New Hampshire Fresenius Medical Center in Rochester, NH. A medical office building with a total of over 10,000 square feet. Quickly on its heels, the firm proudly acquired a well-recognized medical portfolio in its hometown of Kansas City. US Dermatology Partners Portfolio consists of four medical office buildings with a total of over 100,000 square feet and a purchase price over $50,000,000. Third quarter columnated with an acquisition of nearly 90,000 square feet of medical office space, with closings across the country, from Brunswick GA, Baton Rouge, LA, Kent, OH to Manhattan, KS.
Looking ahead at the remainder of the fourth quarter, Crown MedRealty is positioned to see additional acquisitions and start 2022 at a strong pace. “The healthcare real estate market is red hot right now”, states Managing Partner and CIO Brian Beggs, “Our team is nimble and creative. We have some of the best minds in the business who look to solve problems in working with our physician partners and investors. Our closings in 2021 have reflected that team and we’re positioned well to finish this year extremely strong.”