Texas Health Spine Surgery Center of Southlake
MedCore Partners was engaged by the physicians of Spine Team Texas to direct the restructuring of their lease agreement and the subsequent disposition of their free-standing ambulatory surgery center in Southlake, TX.
When the physicians initially developed this ASC, they inadvertently utilized a lease structure that was unconventional and would have been problematic for buyers to absorb, which severely impacted the market value of the property.MedCore was asked to guide the lease restructuring efforts and then market the property for sale in order to maximize the value for the physician investors.
After a thorough review of the initial lease agreement and other pertinent factors associated with the ambulatory surgery center, MedCore broke down the critical elements into a more market-standard structure and offered the physicians advice on how this proposed structure would enhance their investment. It was quickly decided to pursue the re-structuring efforts that MedCore recommended.With this decision made, MedCore managed the process of preparing and executing replacement lease documents.
Immediately thereafter, MedCore began marketing the property for sale employing a very organized andtargeted approach to identify the ideal pool of buyers.MedCore fielded numerous offers from buyers across the country and advised the physicians throughout the negotiations until one buyer ultimately emerged as the best candidate.With terms agreed to, MedCore continued to represent the physicians through the remainder of the transaction to ensure that the process ran smoothly and that it closed ontime.
By leveraging off of MedCore’s proposed lease structure and its marketing efforts, the physicians were able to attract a wide range of buyers for their surgery center.This drove the sales price for the property significantly higher and resulted in an investment windfall for the physicians in excess of20% more than was previously projected under their original lease structure.
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