Summerside, PEI (Nov. 1, 2020).
Thrive Healthcare Properties, a real estate investment firm, which focuses on the acquisition of healthcare facilities, recently acquired a 5,500 sqft building housing a separate 4,000 sqft Docbraces Orthodontic clinic and 1,500 sqft Obstetrician practice at 644 Water Street, Summerside, PEI.
“We were very pleased with the level of professionalism Thrive Healthcare Properties brought to the transaction, said ?, President of Canadian Orthodontic Partners. The ability to provide our Doctors with an easy and reliable real estate solution is a great benefit to our acquisition process, as well as having confidence that the facility will be managed by a sophisticated landlord with a long-term commitment to ensuring excellent standards are maintained for our clinical facilities.”
The acquisition provided a positive outcome for all parties involved. Thrive Healthcare Properties acquired another state-of-the-art facility to add to its portfolio, while providing the former practice owners with liquidity and the opportunity to divest of their real estate, while simultaneously rolling a portion of their proceeds into an ownership stake in Thrive Healthcare Properties for ongoing passive real estate investment income and share value appreciation.
“The acquisition of this healthcare facility is the type of transaction that is core to Thrive Healthcare Properties investment objectives – to acquire the best healthcare leased real estate the market has to offer, while providing positive outcomes for all parties involved,” said Mike Black, Thrive Healthcare Properties Managing Director.
Thrive Healthcare Properties entered into a new 10-year lease with Canadian Orthodontic Partners, which owns and operates multiple orthodontic practices across the country.
