MAY 2024

C ommercial R eal E state A cross A merica

M id A tlantic Real Estate Journal — May 2024 — 23A Acre’s Arrivo & Quintana move to Brickell office RIPCO attains leading South Florida brokerage

70,000 s/f outpatient building in Sarasota, Florida Anchor Health Properties & BGO close on medical bldg. S ARASOTA, FL — An- chor Health Proper- ties and BGO recently

“This partnership with RIP- CO significantly broadens our reach and capabilities. Their

MIAMI, FL — RIPCO Real Estate (RIPCO) announced the acquisition of Acre , a Mi-

strong indus- try presence and exten- sive client network pro- vide a solid platform to scale our op- erations and continue cre-

ami-based retail leasing and tenant representa- tion broker- age. This strategic acquisition, RIPCO’s sec - ond M&A

closed on an off-market three story, 70,418 s/f best in class medical outpatient building in the dynamic Sarasota market through a recently launched programmatic acquisitions joint venture. Ben Ochs , CEO with An- chor Health Properties, noted, “We are pleased to expand our blue chip stable of capital part- ners to include BGO, one of the largest and most experienced institutional investors in US commercial real estate. This new acquisitions joint venture program with BGO is a testa- ment to the Anchor operating platform and our ability to continue to source creative, off market investment opportuni- ties in a time of challenging capital markets.” “This acquisition is a testa- ment to the dedication and per- severance of our investments platform as well as our ability to be creative across the capital stack – to lean on relationships with local and regional lenders and turn what many consider a challenging market into an op- portunistic one,” shared Elliott Sellers , senior vice president, Investments and Partner with Anchor. “As the healthcare delivery model continues to place a greater emphasis on outpatient services, multi- specialty MOBs anchored by an ambulatory surgery center or similar high acuity function are continually in demand as regional providers look to ex- pand their patient base within the communities they serve. We look forward to working with some of the preeminent clinical medical groups in the Sun Coast.” “With this first joint acqui - sition, we are excited to com- mence our partnership with the Anchor Health Properties team and their strong track record of success in the healthcare real estate sector,” shared Kevin Yen , principal, investments with BGO. “This acquisition is highly complementary to BGO’s investment approach in seeking high acuity and high-quality

Marty Arrivo Aracibo Quintana

ating unique retail experienc- es that meet the demands of modern retail brands and their consumers,” said Aracibo. Arrivo brings over two de- cades of specialized expertise in retail real estate, signifi - cantly impacting areas like Brickell and the Miami Design District. With a strong back- ground in landlord and tenant representation, mixed-use development, and strategic leasing, Arrivo has facilitated nearly 4 million s/f of trans- actions across Florida, re- shaping retail landscapes in Wynwood, West Palm Beach, and Orlando. Quintana brings over 25 years of global retail real estate expertise to RIPCO, specializing in strategic de- velopment and tenant repre- sentation across four conti- nents. His roles as director of americas real estate at apple and senior director of real estate & construction at Nike have enabled him to oversee more than 1,000 transactions worldwide as an in-house Real Estate Executive. Aracibo has launched market entries for brands like LUCID Mo- tors, Nike Rise, Nike Live, Tacombi, and Forward, and also assisted Barry’s with the relocation of their HQ from Los Angeles to Wynwood. A South Florida native, his ex- tensive global experience and national insights make him a crucial asset to RIPCO. He is a licensed real estate sales asso- ciate in Florida and a member of the International Council of Shopping Centers. Marty and Aracibo, who will serve as executive VPs, Elizabeth Higgins , director, and associate Sam Paniello , will join the RIPCO South Florida team and work from the Brickell office. MAREJ

transaction in as many years, significantly enhances its leas - ing and tenant representation operations by integrating an experienced team and estab- lishing new benchmarks in the region’s retail real estate sector, improving its service offerings to clients. Under the leadership of seasoned profes- sionals Marty Arrivo and Aracibo Quintana , Acre has revitalized urban districts into vibrant commercial hubs. Notable projects include Re- lated Companies’ $2.5 billion redevelopment of The Square in West Palm Beach, which features top-tier tenants like Design Within Reach, Anthro- pologie, West Elm, lululemon, and Sweetgreen, and introduc- ing prominent brands like Ta- combi, LUCID, and Nike Rise to Miami. Acre’s representation of world-class tenants such as Nike, LUCID Motors, The Henry, Forward, and Starbucks helped attract them to Brickell City Centre. “Adding Marty, Aracibo, and the entire Acre team to RIPCO represents a transformative step for RIPCO. Their exper- tise and market credibility are unsurpassed, and I am thrilled about our collaboration to en- hance our retail leasing capa- bilities in South Florida. This acquisition marks a significant milestone in our strategy to compete for and secure the most prestigious leasing assignments in the market,” said RIPCO president Mark Kaplan . “Joining RIPCO allows us to leverage their extensive back- end services and robust client base to elevate the retail en- vironments we are passionate about creating. I am thrilled to integrate our vision with RIP- CO’s capabilities to serve the dynamic South Florida market better,” said Arrivo:

6600 University Parkway East

outpatient MOBs in affluent and growth-oriented markets.” Strategically located at 6600 University Parkway East with- in Lakewood Ranch, one of the largest and fastest growing master planned communities in the country, the facility is less than one mile from Lake- wood Ranch Medical Center, a 120 bed hospital operated by Universal Health Services (Moody’s Baa3), and offers close proximity to HCA Florida Sara- sota Doctors Hospital, a 155 bed hospital within the HCA Healthcare hospital system (Moody’s Baa3). Built in 2020, the 100% occupied outpatient facility features a long-term, syner- gistic tenant ecosystem com- prised of prominent local and regional providers, including Manatee Physicians Alliance, the physician arm of the Lake- wood Ranch Medical Center; Advanced Surgery Center of Sarasota, a physician owned Ambulatory Surgery Center (ASC); Fresenius, the largest provider of dialysis services and products; and, Radiology Regional, one of the largest physician diagnostic imaging providers in the Southeast. Primary care and multi- specialty outpatient care ser- vices offered at this location include family medicine, dialy- sis services, diagnostic imag- ing, pediatric radiology, pain

management, dentistry, plastic surgery, behavioral health, and neurology, among others. The ASC will be built out in the near term and feature two operating rooms utilized for orthopedic, joint replacement, podiatry, and spine surgery procedures. “This tremendous oppor- tunity and investment is a result of targeting quality outpatient healthcare assets in key markets where we can add scale and density,” added Rob Rumer , investments manager with Anchor. “The attractive Sarasota MSA has a high concentration of hospital campuses, health systems, and private physician groups. Building on this, the facility has a tremendous presence within the Lakewood Ranch community and is the newest medical outpatient building in the submarket. The property is surrounded by amenities such as residential, retail, and commercial office space offer - ing convenience for patients, providers, and visitors.” JLL provided capital evalu- ation and advisory services for the asset. Anchor Health Properties will provide go for- ward asset and property man- agement services to the joint venture for this investment, growing its owned and man- aged portfolio across the South- eastern US to more than three million s/f. MAREJ

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