Healthcare Realty has acquired a small portfolio of medical real estate from Hammes, expanding its holdings in South Carolina and North Carolina. The transaction includes two income-producing healthcare assets in Summerville, SC, and a development-ready site in Chapel Hill, NC. The portfolio traded for a reported $56 million.
In Summerville, Healthcare Realty purchased Summerville Medical Campus, described as a nearly 100,000-square-foot, multi-tenant medical office building. The property is anchored by the Medical University of South Carolina, which carries an S&P AA credit rating. The asset is fully leased and is characterized as a multi-tenant medical office facility, reinforcing its role as a clinical hub within the local healthcare network.
The Summerville portion of the acquisition also includes Charleston Surgery Center, a 22,261-square-foot ambulatory surgery center. The facility is fully leased to a joint venture led by SCA Health, which is rated AA- by S&P. Together, the Summerville medical office and surgery center assets are reported to be 100% leased, with a weighted-average lease term of approximately seven years and fixed annual rent escalations across the portfolio. These lease characteristics provide visibility into near- to medium-term cash flows for the new owner.
Beyond the stabilized properties, Healthcare Realty also acquired an approximately five-acre development site at 5936 Farrington Road in Chapel Hill. The land is fully entitled for a six-story, 168,000-square-foot medical and office building. The entitlements also provide for a structured parking garage, positioning the parcel for future healthcare or medical office development consistent with its current zoning. No timeline or development start date was disclosed in connection with the acquisition.
The seller, Hammes, was advised on the transaction by a Newmark team. The brokerage group included Ben Appel, Jay Miele, Justin Shepherd, John Nero, Michael Greeley and Ron Ott, who provided sales advisory services to Hammes. Further financial terms beyond the overall sales price, including any debt financing details or cap rate information, were not disclosed.
Across the acquired assets, the combination of stabilized medical office and ambulatory surgery space in Summerville and an entitled development opportunity in Chapel Hill reflects ongoing investor interest in healthcare real estate with both current income and future growth potential. The fully leased status of the existing facilities, along with credit-rated healthcare tenancy and fixed annual rent escalations, underscores the portfolio’s emphasis on durable, cash-flowing medical assets.
