Paso Del Norte Surgery Center - El Paso, TX

— Transaction Highlights—

Transaction Value: $6,350,000

Key Points: Achieved 99% of list price within 24-hours of marketing, Triple-net (NNN) lease, health system partnership.

Property Components: Multi-specialty outpatient surgery center.

Buyer: Private Equity Seller: Physician Practice

— Transaction Summary —

The 18 physician owners of Paso Del Norte Surgery Center retained HG Real Estate Partner’s co-founder Cole Harstad to quietly marketing the asset off-market. Mr. Harstad produced a list price offer within 24 hours of marketing the property “off-market”. As the existing lease was signed by a sub-entity, the primary issue that arose during due diligence was the ability of the acquirer to review the tenant’s financial health. The issue was circumnavigated by analyzing the parent company’s historical financial statements to ensure practice stability. The purchase agreement negotiated and executed in one week, and the transaction closed within 60 days.