Jones Lang LaSalle Incorporated : JLL facilitates sale of medical office adjacent to The Villages on behalf of Stage Equity Partners

ORLANDO - Jan. 5, 2022 -JLL Capital Markets announced today that it has facilitated the sale of TLC Medical Arts Building, a 28,712-square-foot, Class A medical office building and ambulatory surgery center in Lady Lake, Florida.

JLL marketed the property on behalf of the seller, Stage Equity Partners, a leading private owner of medical office buildings headquartered in Chicago. Remedy Medical Properties acquired the property via a competitive process that yielded extremely strong interest from a range of high-quality investors.

The property is a multi-tenant medical office building significantly anchored by TLC Outpatient Surgery & Laser Center, a joint venture partnership between physician members and United Surgical Partners International ("USPI"). The ambulatory surgery center features three operating rooms and two procedure rooms offering a range of specialties including, ENT, spine, urology, plastic surgery and podiatry. USPI, which is part of Tenet Healthcare, operates over 400 ambulatory facilities across 28 states. The balance of the tenancy comprises strong regional practices.

Located at 201 West Guava St., TLC Medical Arts Building is situated less than an hour from Orlando and adjacent to the world-renowned The Villages, the largest retirement community in the country. Drafting off the extreme growth happening in and around The Villages was an integral and ultimately successful part of Stage's investment strategy.

The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Evan Kovac and Mindy Berman and Managing Director Timothy Joyce, with support from Vice President Trent Jemmett.

"Medical office buildings anchored by surgery centers continue to demand a premium in the marketplace," said Kovac. "Our client, Stage Equity, did a phenomenal job executing their business plan leading to a successful outcome. TLC Medical Arts Building checked a lot of boxes, most notable its location adjacent to The Villages, a world-renowned retirement community boasting the nation's fastest-growing population."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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