19-Building Florida Medical Building Portfolio Recapitalization Transaction Closes

Kaufman Hall and Associates, LLC (“Kaufman Hall”) was selected as the exclusive financial advisor to AW Property Co. (“AW” or “Sponsor”) related to the joint venture equity raise for the recapitalization of a 19-building, 525,759 square foot medical office building portfolio located throughout the State of Florida.

The portfolio is comprised of a diverse mix of on- and off-campus medical office buildings aligned with several of the nation’s leading non-profit health systems. The portfolio was owned by a discretionary real estate fund sponsored by AW.

Kaufman Hall’s Role

On behalf of AW, Kaufman Hall undertook a competitive effort to identify the most appropriate institutional capital partner. Kaufman Hall’s efforts included approaching a diverse pool of potential equity partners, including investors with previous medical office experience and firms with no prior experience with healthcare real estate. Based on Kaufman Hall’s efforts, the quality of the Sponsor and the opportunity, AW received multiple proposals from various investor types, including domestic pension fund advisors, foreign capital sources and private equity groups, among others. The structured and highly competitive process resulted in the selection of a well-established institutional investment manager with a national presence across multiple real estate asset types.

Source: HREI