Christian Vaughan, Vice President of Northmarq’s National Healthcare Group, recently facilitated the sale leaseback of two primary care properties in Noblesville, Indiana for $13.5 million. The seller was Riverview Hospital and the buyer was Four Corners Property Trust.
The combined portfolio spans 32,744 square feet and includes Riverview Health’s Noble Creek (205 Noble Creek Drive) and Westfield (865 Westfield Road) locations. The tenant has long-term triple net leases in place and the transaction closed at a 7.3% cap rate.
According to Vaughan, this deal was a perfect match between seller and buyer as it involved two essential outpatient facilities being sold through a long-term agreement. These sites are strategically located near the hospital and play an important role in providing critical care to the local community where demand for services is rapidly increasing. With strong investment potential due to their favorable outlooks and critical nature as medical outpatient buildings, this sale-leaseback presents an excellent opportunity for the buyer.
