The South Florida Real Estate Investment Group Recently Purchased Six Single-Tenant, NNN Medical Office Buildings Throughout the US and Plans to Invest Another ±$87M in 2021
HOLLYWOOD, FL, May 28, 2021 — Savlan Capital has purchased six single-tenant medical office buildings for $13.4 million. The investments, located throughout the United States, offered cap rates ranging between 7 to 8.5 percent.
The Hollywood, Florida-based real estate investment group purchased the buildings over the last three months, diversifying its existing portfolio of commercial properties by securing single-tenant, NNN health care assets. Savlan Capital’s move into this asset class reflects an expansion of the company’s investment philosophy.
“We are now focused on single-tenant, NNN health care facilities housing tenants with long-term leases in place,”
said Savlan Capital Chief Executive Officer Zusha Tenenbaum. “These assets provide essential services to their respective communities and offer strong fundamentals, reliable cash-on-cash returns, and are quite resilient in the face of E-commerce and recession.”
Savlan Capital plans to invest approximately $100 million in the asset class this year. The company currently has eight additional properties under contract and plans to close on a significant number of these deals in the third quarter.
“We continue to focus on creating above-market, risk-adjusted value for our partners,” added Tenenbaum. “Our experience in acquiring, leasing, and managing real estate adds crucial value that will contribute to the portfolio’s success.”
Savlan Capital’s recent acquisitions include buildings in Texas, New Mexico, Florida, Oklahoma, Ohio, and Alabama.
The company purchased a ±10,698-square foot medical office building located at 108 Twin Fountains Drive in Victoria, Texas. The building, developed in 2011, is fully leased to Mesa, AZ-based NextCare Ugent Care.
Patrick R. Luther led a team from SRS Real Estate Partners in representing both the seller and Savlan Capital in the transaction, which closed March 24.
Savlan Capital acquired a ±14,843-square-foot freestanding medical office building at 401 North Canal Street in Carlsbad, New Mexico on March 24. The building, constructed in 1993, is leased to Carlsbad Medical Center, an outpatient medical facility and affiliate of Community Health System, Inc. (NYSE:CYH), which operates 110 hospitals in 19 states. No broker was involved in this transaction.
On April 9, Savlan Capital acquired a ±4,634-square-foot building situated at 2959 Fruitville Road in Sarasota, Florida. The building was developed in 1987 and is occupied by Birmingham, AL-based Southern Veterinary Partners.
Savlan Capital and the seller were represented by a team from Matthews Real Estate Investment Services led by Andrew Evans.
Savlan Capital acquired a ±5,125-square-foot outpatient medical office at 3209 North Flood Avenue in Norman, OK on May 14. The structure, built in 1983 and renovated in 2018, is occupied by Direct Orthopedic Care (DOC).
Jeff Matulis led a team from Stan Johnson Company in representing both Savlan Capital and the seller in the transaction.
Jason Lenhoff from Quantum Real Estate Advisors represented both parties in this transaction.
Neal Brock of Sands Investment Group represented both Savlan Capital and the seller.
About Savlan Capital
Savlan Capital is a fully integrated real estate investment company with over 20 years of extensive real estate investment management, acquisition, property management, development, and redevelopment expertise. Headquartered in Hollywood, Florida, Savlan Capital has a proven track record of successful investing in sustainable multifamily, office, industrial, medical office, and business parks in markets exhibiting diversified economies and strong population growth throughout the United States. For more information, please visit www.savlancapital.com.
Building Photo – 108 Twin Fountains Drive, Victoria TX
Building Photo – 401 North Canal Street, Carlsbad, NM
Building Photo – 2959 Fruitville Road, Sarasota FL
Building Photo – 3209 North Flood Avenue, Norman, OK
Building Photo – 4660 Roberts Road, Columbus, OH
Building Photo – 2134 Douglas Avenue, Brewton, AL