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May 23, 2019, 4:30 p.m. EDT

United States : HFFS Advises on $1.25b Sale of 55-building National Medical Office Portfolio

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May 23, 2019 (Euclid Infotech Ltd via COMTEX) -- HFF Securities, L.P. (HFFS) and Holliday Fenoglio Fowler, L.P. (HFF) announced that they have advised CNL Healthcare Properties, Inc. on its $1.25 billion sale to Welltower Inc. of a Class A medical office portfolio totaling 55 buildings across 16 states. HFFS was engaged in 2018 to act as a strategic financial advisor in exploring and executing potential liquidity alternatives for CNL Healthcare Properties.

The medical office portfolio comprises approximately 3.3 million square feet across 16 states, positioned in strategic locations within major metropolitan markets. The facilities are affiliated with some of the nations premier health systems, including Novant, Memorial Hermann and Cleveland Clinic.

In April, HFFS advised on the sale of four Inpatient Rehabilitation Facilities (IRFs) for a total of $94 million, also on behalf of CNL Healthcare Properties Inc. Global Medical REIT Inc. was the buyer.

The HFFS team representing CNL was led by senior managing directors Steve Hentschel and Ted Flagg as well as members of HFFs national medical office capital markets team, including managing directors Evan Kovac and Ben Appel and directors Andrew Milne, Zach Drozda and Anthony Frogameni.

This is the second largest medical office portfolio sale to ever transact based on total dollar volume, said Milne. The high-quality portfolio primarily consists of properties positioned in major markets and on campuses of leading U.S. healthcare systems.

The CNL engagement demonstrates the broad strength of HFFs platform across REIT investment banking and medical office/seniors housing capital markets advisory platforms, added Flagg. We are proud to bring this all together with a great client such as CNL.

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