Physician Real Estate Capital Advisors, LLC (PRECAP) announced on August 15 that it advised a sale of an ambulatory surgery center (ASC) in Naperville, Illinois for $15.2 million. The building was sold by an undisclosed seller. The acquirer is also undisclosed, but it is a privately-held company that specializes in healthcare-related real estate acquisitions.
The 19,000 square foot building was built in 2008 and is occupied by Suburban Gastroenterology, Ltd. and Midwest Endoscopy Center, LLC. SGI employs nine physicians with a tenth starting in 2023. The price is $763 per square foot.
PRECAP provides sale-leaseback and investment sale healthcare real estate advisory services to physicians, private equity sponsors, investors and developers. Company principals have executed more than $1.1 billion of transactions throughout the United States. This is the third transaction that PRECAP has advised on this year.
According to the LevinPro HC database, this transaction marks the 18th ASC acquisition of the year. The largest ASC deal of the year was PRECAP acquiring an ASC, with an undisclosed square footage, in Natick, Massachusetts for $24.9 million. The most active acquirer in the ASC space this year has been Montecito Medical Real Estate with six acquisitions.
