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"The strong tenancy and lease terms at the properties ensures a steady, appreciating cash flow for buyers." Brett Buchwald, Ackerman Medical
ATLANTA, GA, February 18, 2019 /24-7PressRelease/ -- Ackerman Medical, a division of Ackerman & Co., has brokered the sale of a 4-building, 80,116-square-foot medical office portfolio in metro Atlanta on behalf of Southwest Atlanta Nephrology P.C. (SWAN). The properties were purchased by Elliott Bay Capital Trust LLC (3 buildings) and a private investment group (1 building) for $18,865,000.
Brett Buchwald, vice president of healthcare investment sales for Ackerman Medical, represented SWAN in the transaction. "It's very gratifying to complete this complex transaction on behalf of Southwest Atlanta Nephrology," he said, adding that the nearly two-year process involved renegotiating a total of five leases on behalf of SWAN and the other principal tenant at the properties, DaVita Dialysis.
Added Brett, "The strong tenancy and lease terms at the properties ensures a steady, appreciating cash flow for buyers."
"We're very pleased to complete the acquisitions of these Atlanta medical properties with Brett Buchwald and the SWAN group. They were great to work with," said Joe Baldwin, executive vice president, Elliott Bay Capital Trust.
Three of the properties were purchased by Elliott Bay Capital Trust: 3620 Martin Luther King Drive, Atlanta; 2669 Church Street, Atlanta; and 1987 Candler Road, Decatur, Ga. The fourth property – 2485 Park Central Blvd., Decatur, Ga. – was purchased by a California-based private investment group represented by David Tran of Transmercial.
Operating in Atlanta since 1981, Southwest Atlanta Nephrology delivers comprehensive healthcare services with an emphasis on hypertension, kidney disease and kidney transplantation.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com
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