Medical Office Building Case Study

Owensboro Dermatology Center

The Owensboro Dermatology center was part of a portfolio of medical office buildings acquired in partnership with Cornerstone Companies, an Indianapolis based firm specializing in the acquisition, development and management of medical office assets. With a long-term lease in place, in addition to guarantees and co-investments by the partner physicians, a significant alignment of interest was achieved. This particular dermatology group is the second largest practice in the region. 

• Owensboro, Kentucky
• Built in 2013
• 144 month NNN lease
• Physician co-invest with guarantees
• Second largest derm practice within 100 miles 
• $5.8 MM Purchase Price
• 10.4% cash on cash return 21% projected IRR