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VOL. 129 | NO. 100 | Thursday, May 22, 2014

West Clinic Portfolio Sells for $12.1 Million

By Amos Maki

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Core Real Estate Capital has completed the sale of three West Clinic Cancer Centers to 2014 Acquisitions 11 LLC, an affiliate of Net Lease Capital Advisors.

Net Lease Capital Advisors, a national real estate investment company based in Nashua, N.H., purchased the portfolio of three single-tenant medical facilities for approximately $12.1 million from Core Real Estate Capital, which acquired the properties in 2011. The deal closed Tuesday, May 20.

Johnny Lamberson and Terry Radford of CB Richard Ellis Memphis represented the seller in the transaction.

Occupied by West Clinic and subleased by Methodist Le Bonheur Healthcare, the three clinics are on Union Avenue in Memphis; in Brighton, Tenn.; and in Southaven.

West Clinic specializes in oncology, hematology, radiology and other advanced medical care. It joined forces with Methodist Healthcare and University of Tennessee Health Science Center in January 2012 to create West Cancer Center, a comprehensive, fully integrated cancer service center for Mid-South residents.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 153 14,870
MORTGAGES 64 144 19,474
FORECLOSURE NOTICES 0 22 3,817
BUILDING PERMITS 217 359 35,689
BANKRUPTCIES 59 121 14,155
BUSINESS LICENSES 24 86 5,077
UTILITY CONNECTIONS 71 170 21,603
MARRIAGE LICENSES 22 59 4,616

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