All Forum Posts by: Thomas Litzinger

Hey BP'ers!

I'm seeking a partner for medical office building (MOB) purchase with a high NOI and established tenants (I'm the main tenant).I am an ophthalmologist and owner of a successful medical and surgical practice currently occupying 80% of a well-located medical office building. Two dental practices occupy the remaining 20%. All practices have strong financial fundamentals. As the anchor tenant and business owner with 20 years remaining in my career, and plans to bring in younger associates/partners this is a very stable asset in the rapidly growing city of Columbus, OH. I will also act as the GP, managing day-to-day operations.This is a Class A MOB, 100% occupied. All suites renovated within the last 5 years, including a state of the art ASC. New HVAC less than 5 years ago, and parking lot resurfacing 1 year ago, with ample parking. The building has high visibility on a busy road and is located minutes from major freeways.

ADDRESS: 1080 Polaris Parkway, Westerville (adjacent to Columbus) Ohio 43240

TOTAL SF: 20,505 SFACREAGE: 1.94 Acres

OCCUPANCY: 100%

IN-PLACE NOI: $464,283.18

PURCHASE PRICE: $6.2M

CAP RATE: 7.48%

LEASES: 

Eye Clinic and surgery center: 7 year lease with two 7 year options, 2.5% annual increase. 

Dentist 1: two 5 year options after current lease ends, 3% annual increase

Dentist 2: 5 year lease with two 5 year options, 1.3% annual increase

I am seeking a commitment of $800k-$1M from a capital partner interested in a stable, passive investment with a 50-50% equity split. I will act as GP, handling the day-to-day operations. Feel free to reach out to me for additional details, thank you!

Thomas Litzinger, MD

614.507.3706

[email protected] (y not g)