November 16, 2017
Everhealth Properties, LP, a subsidiary of Everest Healthcare Properties, LLC, closed on the initial property in its market-leading, tax-deferred IRS Section 721 (§721) program. The property, New Albany Medical Center, is a 60,000-square foot hospital-system anchored medical office building located in Louisville, KY.
Everest Healthcare Properties’ David Lynn says, “We could not be more excited to acquire this property as the initial investment in our tax-deferred program. The Everhealth Properties program is a compelling alternative to sellers who desire deferral of taxable capital gains, access to a diversified medical office portfolio, and professional asset management.”
The property is 95% occupied, with a weighted average lease term of nearly five and half years and investment-grade tenancy representing 64% of rentable square feet.
For comments, questions or concerns, please contact Dennis Kaiser