Charlottetown, PEI (Nov. 1, 2020).
Thrive Healthcare Properties, a real estate investment firm, which focuses on the acquisition of healthcare facilities, recently acquired the Docbraces Orthodontic facility at 197 Minna Jane Drive, Charlottetown, PEI.
The property is a 5,000 sqft orthodontic clinic that has an operating history of 12 years. The acquisition occurred concomitantly with the sale of the practice from an independent practitioner to Canadian Orthodontic Partners, a national service organization of multiple orthodontic practices across Canada.
Thrive Healthcare Properties was able to work with the seller to secure a 10-year lease commitment with Canadian Orthodontic Partners; thus allowing the seller to achieve maximum value on the property sale. The seller also chose to roll a portion of their sale proceeds into an ownership stake in Thrive Healthcare Properties. Canadian Orthodontic Partners now has a professional asset manager with expertise in the operation of healthcare facilities.
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