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During the "go-shop" period, 34 potential parties were contacted on behalf of Quality Care to see if they had an interest in making a proposal to acquire it.
While no industry is completely immune from technological advances that could jeopardize future growth and sustainability, dialysis services are projected to increase in the coming years.
The portfolio was purchased by an institutional investor for $57 million and was encumbered by CMBS debt, but selling it intact circumvented defeasance penalties that would have been triggered by carving up.
The Kimmel Pavilion totals 830,000 square feet, including 11 patient floors, It features 374 exclusively single-bedded rooms that hospital officials say will provide patients and their families privacy, reduce the risk of infection, and improve staff workflow.
With the continued focus on the aging population and demand for more convenient healthcare facilities, many companies are gearing up to address those market dynamics, including promoting personnel.
To date, KAREP V has successfully deployed more than 20% of the KAREP V fund or approximately $360 million. KAREP V is seeking opportunities across seniors housing, medical office and student housing sectors, the company states.