BGL Announces the Real Estate Sale of Bakersfield Heart Hospital

Correction: This press release has been updated to clarify that the reported transaction involved the sale of real estate only, and did not in any way involve, change or otherwise affect the operating company structure, ownership or management team of Bakersfield Heart Hospital.

News provided by

Brown Gibbons Lang & Company

Apr 23, 2019, 09:20 ET

CHICAGO and CLEVELAND, April 23, 2019 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the real estate sale of Bakersfield Heart Hospital (BHH), an award-winning hospital located in Bakersfield, California. BGL's Healthcare Investment Sales team served as the exclusive advisor to the seller in the transaction. The Sanders Trust, a Birmingham-based healthcare real estate and development firm, acquired the real estate. BHH will continue to operate under its current ownership and management team.

Brown Gibbons Lang & Company is pleased to announce the real estate sale of Bakersfield Heart Hospital, an award-winning hospital located in Bakersfield, California. BGL's Healthcare Investment Sales team served as the exclusive advisor to the seller in the transaction.

BHH is 100% leased and is approximately 85,971 rentable square feet. The hospital is supported by two affiliated medical office buildings consisting of approximately 36,000 square feet and 30,000 square feet, respectively, which provide a campus-like setting and convenience for patients and healthcare providers alike. The property is well-located in Bakersfield, with prominent visibility and is easily accessible from the intersection of Highway 99 and Highway 178; additionally, BHH is within the Bakersfield Metropolitan Statistical Area (MSA), which is ranked as the 62^nd largest MSA in the United States.

About Brown Gibbons Lang & Company

Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Consumer, Diversified Industrials, Environmental & Industrial Services, Healthcare & Life Sciences, Metals & Metals Processing, and Real Estate. BGL has offices in Atlanta, Chicago, Cleveland, Denver, Philadelphia, San Antonio, and San Diego in addition to international offices in more than 30 countries through our Global M&A Partners network. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.

SOURCE Brown Gibbons Lang & Company