Dermatology ASC/MOB Portfolio
HREA | Healthcare Real Estate Advisors is pleased to announce the real estate sale of a newly built state-of-the-art outpatient surgery center and clinic that is well-located in Vestavia, Alabama, an affluent suburb of Birmingham, and a medical office building in Montgomery, Alabama.
Constructed in 2020, the Vestavia Hills MOB & ASC is 100% leased by Surgical Dermatology Group (SDG), and was specifically designed and built for SDG, serving as the flagship location and outpatient surgery center. In 2023, Surgical Dermatology Group partnered with AQUA Dermatology, the largest full-service skincare provider in the Southeast, with over 100 locations and 200 providers to meet the demand of the rapidly expanding healthcare market. AQUA Dermatology is backed by the private equity firms, Gryphon Investors and GTCR, two leading middle-market private equity firms, which have a combined $33 billion of assets under management.
The Vestavia Hills location is located within the Birmingham – Hoover, AL MSA, which has an estimated population exceeding 1.1 million, making it the largest metropolitan area in Alabama and 58th in the U.S. Further enhancing the stability of the practice, Alabama has a certificate-of-need (CON) program for surgery centers that limits healthcare providers from entering new markets without first gaining approval from state regulators.
Sale Highlights
Certificate of Need (CON State) – Strong Barriers to Entry
Build-to-Suit Construction for Surgical Dermatology Group
PE Backed & Strategic MSO Partnership
Long Term Absolute NNN Lease w/ 2.5% Annual Increases
Competitive Bid Environment – Generated Multiple Offers
All-Cash Buyer - No Financing Contingency
Representative Transactions
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Have you and your partners discussed real estate strategies involving your medical real estate, ASCs, or medical office buildings? HREA | Healthcare Real Estate Advisors can help maximize your investment. Start the conversation today and secure a profitable future for your real estate.
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