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A Smart Exit Strategy for Smaller Aging MOBs

Repositioning the property for condo-ization and including that option as part of the marketing package can help fill the gap created by renovation costs and interim lost rental income, HemphillSolutions’ Ralph Hemphill tells GlobeSt.com.

Ralph Hemphill Hemphill: “The condo option reduces purchase-price risk some, by giving the buyer three different exit strategies.”

SAN DIEGO—Repositioning smaller, aging medical-office buildings for condo-ization and including that option as part of the marketing package can help fill the gap created by renovation costs and interim lost rental income that often come with the process, HemphillSolutions senior advisor Ralph Hemphill tells GlobeSt.com.

Hemphill has more than 25 years of real estate experience that includes ground-up development, adaptive reuse/repositioning, portfolio management and advising businesses and hedge funds on all things real estate. After reading about ways to reposition larger aging MOBs, Hemphill spoke with us about an alternative solution for smaller buildings.

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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