Investment bank Brown Gibbons Lang & Co (BGL) sold its subsidiary Dermatology & Skin Surgery Center of North Carolina on Monday, to medical real estate acquiring firm TM Medical Properties LLC.
Asheboro-based Dermatology & Skin Surgery Center of North Carolina property is about 6,746 rentable square feet, said the firm. Additionally, BGL’s healthcare real estate investment team served as consultants to the seller in the transaction.
BGL said the medical centre provides wide services related to clinical dermatology, surgical dermatology, MOHS surgery, melanoma, moles, cysts, and other skin growths. The practice has 17 providers and six practice locations, with an average patient walk-in of 510 per week, added the firm.
BGL’s Healthcare real estate investment team is an advisor to private and institutional healthcare organizations, providing capital market strategies and solutions, including sale or leaseback transactions, asset disposition, debt or equity recapitalization, private placement, and tax-deferred umbrella partnership real estate investment trust (UPREIT) structures, said the financial advisor.
TM Medical Properties was established as a general partner to acquire and manage real estate properties in the price range of $4-20 million leased to healthcare providers in the Southeast. In 2020, the firm launched TM Medical Properties II LP and expanded its investment throughout the United States as well as invested about $15 million, in net sale-leaseback medical clinics.
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