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BlackBirch Capital acted as the exclusive advisor to Seavest Healthcare Properties on a $1 Billion transaction, which included a recapitalization of a portfolio of high-quality medical office buildings with Nuveen Real Estate.
Seavest Healthcare Properties and Nuveen Real Estate concluded the transaction inDecember 2021, which included a recapitalization of a portion of Seavest’s medical office portfolio
NEW YORK, N.Y. and WHITE PLAINS, N.Y., January 26, 2022 – Seavest Healthcare Properties, LLC, the New York City and White Plains based healthcare real estate investment management firm, a division of the Seavest Investment Group, LLC, has concluded a transaction including a portfolio recapitalization in partnership with Nuveen Real Estate, one of the largest real estate managers globally. The approximately $1 billion transaction closed in December 2021.
Seavest recapitalized a portion of its portfolio of high-quality medical office buildings with Nuveen which has $1.2 trillion under management and $144 billion in real estate assets across the globe. The transaction extends Seavest’s and Nuveen’s existing relationship in the medical office building and outpatient medical facility sector.
“This transaction is a great addition to Nuveen’s healthcare real estate portfolio, and we are excited to expand our partnership with Seavest. Nuveen is focused on investing in strategically located, high quality medical facilities that are positioned to efficiently deliver quality care to the surrounding community. This portfolio accomplishes that,” said Andrew Pyke, Head of Healthcare Real Estate at Nuveen.
“The transaction is a testament to our ongoing success working together,” said John Winer, Senior Managing Director & CIO of Seavest. “We have assembled a portfolio of highly strategic medical properties through our acquisition and development efforts. This enhancement to our partnership with Nuveen enables Seavest to advance our mission of building long term relationships with our health system and physician tenants.”
BlackBirch Capital acted as the exclusive financial advisor to Seavest Healthcare Properties in the transaction. Goodwin Proctor, LLC served as legal counsel.
About Seavest Healthcare Properties LLC and Seavest Investment Group LLC
Seavest Investment Group, LLC is a real estate and social impact directed investment management firm. Seavest Healthcare Properties, LLC, a wholly owned subsidiary, focuses on investments in the medical office and outpatient facility sector. The firm acquires existing properties and joint ventures with established developers to build new facilities for health systems throughout the United States. For more information, please visit www.seavesthcp.com.
About BlackBirch Capital
BlackBirch Capital is an investment bank specializing in providing strategic advice on capital raises, recapitalizations, and asset sales, working with public and private real estate companies and their related investment vehicles across a wide range of healthcare and alternative sectors. The firm also provides advisory services including private placements and fundraising, divestitures and restructuring advice. For more information, please visit www.blackbirchcapital.io.