Seavest And Nuveen Partner In $1 Billion Medical Office Transaction

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Seavest Healthcare Properties, LLC, the New York City and White Plains based healthcare real estate investment management firm, a division of the Seavest Investment Group, LLC, has concluded a transaction including a portfolio recapitalization in partnership with Nuveen Real Estate, one of the largest real estate managers globally.

The approximately $1 billion transaction closed in December 2021. Seavest recapitalized a portion of its portfolio of high-quality medical office buildings with Nuveen which has $1.2 trillion under management and $144 billion in real estate assets across the globe. The transaction extends Seavest’s and Nuveen’s existing relationship in the medical office building and outpatient medical facility sector.

“This transaction is a great addition to Nuveen’s healthcare real estate portfolio, and we are excited to expand our partnership with Seavest. Nuveen is focused on investing in strategically located, high quality medical facilities that are positioned to efficiently deliver quality care to the surrounding community. This portfolio accomplishes that,” said Andrew Pyke, Head of Healthcare Real Estate at Nuveen.

“The transaction is a testament to our ongoing success working together,” said John Winer, Senior Managing Director & CIO of Seavest.  “We have assembled a portfolio of highly strategic medical properties through our acquisition and development efforts. This enhancement to our partnership with Nuveen enables Seavest to advance our mission of building long term relationships with our health system and physician tenants.”

BlackBirch Capital acted as the exclusive financial advisor to Seavest Healthcare Properties in the transaction. Goodwin Proctor, LLC served as legal counsel.

 

Source: HREI

Physician-Owned Florida Real Estate Poised To Prosper In 2022

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ERE Healthcare Real Estate Advisors (ERE) just announced the release of an article that explores healthcare real estate investor sentiment for physician owned real estate in Florida.

Andy Matti, Author and Associate with ERE, highlights that, “Demand for healthcare real estate is expected to reach new highs in 2022. This trend uniquely positions physicians who own their real estate to capitalize on unprecedented values.”

Titled, “Physician Owned Real Estate: Florida Poised to Prosper in 2022“, the article provides a look into the future of healthcare real estate based on historical data with a general consensus that healthcare real estate investors remain consistent in their pursuit to acquire properties.

“Even if a real estate sale doesn’t meet the ownership’s current objectives, addressing potential partnership challenges early will maximize the value and security of their investment,” said Collin Hart, CEO and Managing Director of ERE Healthcare Real Estate Advisors.

 

Click here to read more about this story.

 

Analyst: 2022 Should Be Strong For Healthcare M&A

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2022 should be strong for healthcare M&A with a surge of buyers from big tech and retail giants following an aggressive 2021 for the buyouts, Irving Levin Associates, publisher of the LevinPro HC platform predicted.

“It has been a historic year for healthcare M&A, with more than 2,500 deal announcements, largely driven by private equity activity across a variety of sectors,” said Dylan Sammut, Editor of Health iCare at Irving Levin.

Health care merger and acquisition activity soared in the fourth quarter of 2021, hitting a record 733 deals with activity in sectors such as Physician Medical Groups and Long-Term Care drove much of the volume, with 138 and 122 deals, respectively, the firm noted.

Demand for healthcare real estate, such as medical office buildings and properties, helped drive the increase in healthcare M&A. While the number of deals were up, their average size was down.

Deal value in the fourth quarter totaled $120.6 billion, a decline of 11% compared with the $135.5 billion spent in the third quarter, based on disclosed prices. The spending in the fourth quarter of 2021 was 2% lower than the $123.6 billion disclosed in the fourth quarter of 2020.

“Activity in the Home Health & Hospice and Behavioral Health Care sectors remained stable thanks to more patients are seeking alternatives to facility-based care turning toward home health services, and anxiety caused by the effects of the COVID-19 pandemic is causing a surge in individuals seeking mental health treatment and services,” the Irving Levin report said.

The technology sectors saw a 5% drop in the third quarter with M&A activity in the eHealth sector remaining level, with 86 deal announcements.

“Although M&A demand for telehealth providers has softened compared with 2020, we’re seeing increased activity for providers specializing in care coordination and patient engagement as the industry moves to a value-based care system,” the report said.

 

Source: GlobeSt.