Investors Maintain Strong Appetite for New Outpatient Healthcare Property

May 6, 2019

JLL Healthcare Capital Markets experts have secured equity and debt capital for Pappas Properties, Inc., the developer of a new development in Charlotte, N.C. that will begin with two state-of-the-art Atrium Health medical office buildings. Publicly-traded REIT Welltower, a leading global provider of health care infrastructure, provided the capital in return for 75 percent ownership.

Managing Director Mindy Berman served as an exclusive advisor to Pappas, a highly reputable Southeast developer. Louis Stephens of JLL’s Charlotte office represented Pappas in local negotiations. As a result of the relationship, Welltower and Pappas will form a joint venture to explore additional development opportunities in the region.

 “State-of-the-art clinical outpatient properties aligned with leading health systems attract the strongest and most competitive interest from healthcare real estate investors,” said Berman. 

 The two-building, 281,148-square-foot development will be delivered in the second and third quarters of 2020 and is part of a multistage, healthcare-anchored mixed-use development on a 10-acre site in midtown Charlotte assembled by Pappas.  

“The Pappas site is representative of a growing trend in development,” said Berman, “with healthcare services anchoring mixed use sites which draw on retail, residential and office traffic to create a more vibrant environment.  The dense urban infill location in midtown Charlotte further amplifies the expected economic drivers and success.”  

JLL Healthcare Capital Markets is the only national full-service healthcare capital markets team in the real estate industry focused on medical office, hospitals, seniors housing and post-acute care. The team consistently transacts over $1 billion annually with unrivaled expertise and experience in investment sales, monetization, development debt and equity capital raise and advisory services for investor and provider clients. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,600 Capital Markets specialists completed nearly $180 billion in investment sale and debt and equity transactions globally.

 For more capital markets content, visit The Investor, an online news source providing real-time commercial real estate news to asset buyers and sellers around the world. For more news, videos and research resources on JLL, please visit the firm’s U.S. newsroom.

JLL Healthcare Capital Markets experts have secured equity and debt capital for Pappas Properties, Inc., the developer of a new development in Charlotte, N.C. that will begin with two state-of-the-art Atrium Health medical office buildings. Publicly-traded REIT Welltower, a leading global provider of health care infrastructure, provided the capital in return for 75 percent ownership.

Managing Director Mindy Berman served as an exclusive advisor to Pappas, a highly reputable Southeast developer. Louis Stephens of JLL’s Charlotte office represented Pappas in local negotiations. As a result of the relationship, Welltower and Pappas will form a joint venture to explore additional development opportunities in the region.

 “State-of-the-art clinical outpatient properties aligned with leading health systems attract the strongest and most competitive interest from healthcare real estate investors,” said Berman. 

 The two-building, 281,148-square-foot development will be delivered in the second and third quarters of 2020 and is part of a multistage, healthcare-anchored mixed-use development on a 10-acre site in midtown Charlotte assembled by Pappas.  

“The Pappas site is representative of a growing trend in development,” said Berman, “with healthcare services anchoring mixed use sites which draw on retail, residential and office traffic to create a more vibrant environment.  The dense urban infill location in midtown Charlotte further amplifies the expected economic drivers and success.”  

JLL Healthcare Capital Markets is the only national full-service healthcare capital markets team in the real estate industry focused on medical office, hospitals, seniors housing and post-acute care. The team consistently transacts over $1 billion annually with unrivaled expertise and experience in investment sales, monetization, development debt and equity capital raise and advisory services for investor and provider clients. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,600 Capital Markets specialists completed nearly $180 billion in investment sale and debt and equity transactions globally.

 For more capital markets content, visit The Investor, an online news source providing real-time commercial real estate news to asset buyers and sellers around the world. For more news, videos and research resources on JLL, please visit the firm’s U.S. newsroom.

 

 

 

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