Project type: Medical, Build-to-suit
Project value: > $5mm
Project size: 18,000 square feet
CGB has a history of joint venture developments with many owner-occupied properties, both build-to-suit and acquisition/renovation, in multiple states. In these ventures, the two entities are both owners in the real estate, and at times, CGB sometimes sells to help realize profits for the client.
In one instance, a successful orthopedics practice had been purchasing its own real estate and building its own units using their balance sheet. However, for an owner-operated medical practice, acquiring and developing real estate was not the best use of its time and resources. CGB was able to offer a joint venture ownership structure that allows the practice to bring more units online faster and with less capital. CGB acts as the practice’s development partner and handles site selection, engineering, construction management, debt & equity structuring, and disposition.