On March 23, Development Solutions and Facilities, a health care-focused real estate firm, announced that it was acquiring four medical office buildings in Georgia for $11.85 million.
Development Solutions and Facilities is run by David Fowler and based in Birmingham, Alabama. It strategizes and executes solutions to develop, lease, manage, own, co-own, invest, acquire and monetize real estate assets.
The Georgia properties include the Toccoa Clinic MedAccess in Toccoa, The Foothills Retail Center in Toccoa, Northeast Georgia Physicians Group Pediatrics in Lavonia and NGPG Primary Care in Clayton. The properties are occupied by Northeast Georgia Physicians Group and total 104,548 square feet across almost 11 acres.
This acquisition strengthens Development Solutions position in Georgia. Further terms of the deal were not disclosed. Most of the clinics will remain in their current offices.
“Expanding our presence in the Georgia market supports our strategic efforts in the state, including two ground-up development projects underway in the Atlanta market for health care occupancy,” said Mr. Fowler.
This acquisition is the 44th medical office building deal to be announced in 2022. The deal with the highest disclosed price, so far, was Healthcare Realty and Healthcare Trust of America entering a strategic combination for $18 billion. The deal comprises 2,147,483,644 leasable square feet. Another noteworthy medical office building deal this year is Remedy Medical Properties and Kayne Anderson Real Estate acquiring MedProperties Realty Advisors, a 23 medical office building portfolio. The portfolio consists of over 1 million square feet and 11 facilities across 10 states.
