Women’s Care Multi-Specialty Clinic
Women’s Care Enterprises had recently acquired several practices in the West Florida market. They were anxious to streamline operations, reduce overhead, and add key ancillaries to drive growth and operational efficiency. HHRE was engaged to review their existing portfolio and advise on the best strategy.
Upon review of their existing locations both owned and leased, HHRE worked closely with WCE to identify the best practices to consolidate. Once the right program for a new facility was established, we looked for any suitable existing facilities. Nothing was available that would work for the intended uses, so it was decided to evaluate the options for two new development projects. Once all pro-forma pricing was completed, HHRE commenced the development process. WCE and its physician partners chose a joint venture structure whereby they utilized HHRE’s balance sheet to fund a majority of the equity and provide all requisite loan guarantees.
Within 18 months, WCE had a 60,000 SF clinic in Brandon, FL and a 15,000 SF clinic in Plant City, FL.
HHRE provided portfolio strategy, development, and investment services to WCE. We worked closely for 2+ years to determine their vision and execute a broad consolidation. WCE is now able to efficiently and effectively implement their corporate strategy while simultaneously allowing their physicians to invest in a reliable investment with attractive risk-adjusted returns. By utilizing HHRE’s expertise for multiple projects, WCE was able to outsource their real estate needs, which kept their staff from becoming overwhelmed with a unique one-0ff project. Further, by developing both buildings at the same time, the project capitalized on economies of scale for a host of costs, such as design, construction, financing, and legal.
Project Details
- Brandon, FL
- 75,000 Square Feet
- HHRE Services: Portfolio Strategy, Development, and Investment
- 2019 Completion
- Two buildings: 15,000 SF and 60,000 SF
