Healthcare Realty Trust Acquires Carolinas Medical Outpatient Collection for $56 Million in Newmark-Brokered Deal
Healthcare Realty Trust has purchased the Carolinas Medical Outpatient Collection, a three-asset medical outpatient portfolio spanning Summerville, South Carolina and Chapel Hill, North Carolina, for $56 million. Newmark arranged the sale on behalf of seller Hammes, the firm announced Sept. 15.
The portfolio totals approximately 120,000 square feet of existing space across two fully leased outpatient assets in Summerville, along with a fully entitled development site in Chapel Hill's Research Triangle corridor.
Summerville Assets: Investment-Grade Tenancy and Full Occupancy
The Summerville component comprises two properties, both 100% leased with a weighted average lease term of approximately seven years and fixed annual rent escalations.
The first asset, Summerville Medical Campus — marketed as the Nexton Medical Office Building at 5500 Front Street, Summerville, SC 29486 — is a nearly 100,000-square-foot multi-tenant medical office building anchored by the Medical University of South Carolina, which carries an AA rating from S&P. The second asset, Charleston Surgery Center at 130 Edge Street, Summerville, SC 29486, is a 22,261-square-foot ambulatory surgery center fully leased to a joint venture led by SCA Health, rated AA- by S&P.
The ambulatory surgery center is a single-tenant asset supporting high-acuity outpatient procedures, a product type that has drawn consistent investor demand given its durable income characteristics and health-system affiliation.
Chapel Hill Development Site Adds Future Density in Research Triangle
The third asset is a fully entitled approximately five-acre development site at 5936 Farrington Road in Chapel Hill, NC 27517. The site is entitled for a six-story, 168,000-square-foot medical and office building with a structured parking garage. The site offers direct access to Interstate 40 and Highway 54 within the Research Triangle submarket.
County records indicate the parcel spans approximately 5.03 acres. Entitlement plans call for roughly 718 parking spaces across four levels, consistent with medical office building parking standards.
Newmark Team and Deal Rationale
Newmark's Ben Appel, Jay Miele and Justin Shepherd, co-heads of U.S. Medical Office Capital Markets, led the assignment alongside John Nero, head of Healthcare Debt, Senior Managing Director Michael Greeley and Associate Director Ron Ott. The team advised Hammes in the transaction.
"The collection pairs stabilized outpatient assets backed by leading healthcare providers with future development potential in two of the Southeast's growing healthcare markets," said Appel. "High population growth southern U.S. markets, newer construction, investment grade tenancy, attractive weighted average lease term and fixed annual rent growth drove strong investor interest."
The transaction reflects broader capital market interest in health-system-anchored outpatient assets in high-growth Sun Belt and Research Triangle markets. The portfolio's combination of stabilized, cash-flowing income in Summerville and entitled development optionality in Chapel Hill aligns with Healthcare Realty Trust's focus on medical outpatient buildings.
About the Parties
Healthcare Realty Trust is a real estate investment trust focused on medical outpatient buildings. Hammes is the seller of record. Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisory and services firm that reported revenues of more than $3.6 billion for the twelve months ended June 30, 2026, and operates from over 195 offices with more than 10,000 professionals across four continents.
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