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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 106 418 11,538
MORTGAGES 135 521 14,424
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 220 913 24,947
BANKRUPTCIES 53 297 8,729
BUSINESS LICENSES 26 119 3,890
UTILITY CONNECTIONS 71 524 13,980
MARRIAGE LICENSES 13 83 3,114

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