Georgia ASC part of $50M real estate portfolio sold in Q4

Cleveland-based medical real estate investor Provider Real Estate Partners acquired a Georgia urology ASC as part of a $50 million portfolio acquisition in the fourth quarter of 2021.

The 25,762-square-foot Albany (Ga.) Urology Clinic includes clinical space and an ASC — one of the most productive ASCs of any specialty in the region, Provider Real Estate said Jan. 5. Albany Urology was founded in 1972.

Some of the physician partners involved in the portfolio acquisition reallocated investments in their respective practices into Provider's real estate fund.

"The reinvestment allows me to capitalize on the value of our clinic and surgery center and diversify my remaining medical office real estate investment across a portfolio of high-quality properties on a tax-deferred basis," Albany Urology's Michael Daugherty, DO, said.

Also included in the portfolio was the 81,269-square-foot Brighton, Mich.-based Genoa Medical Center — home to independent orthopedic, ophthalmology and dermatology practices — and the 12,377-square-foot Shallotte, N.C.-based Oceanside Family Medicine & Convenient Care.

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