The deal includes two fully leased outpatient buildings in South Carolina and a development site in North Carolina.
Healthcare Realty Trust acquired the Carolinas Medical Outpatient Collection from Hammes for $56 million, the companies said. The portfolio includes two fully leased medical outpatient buildings in Summerville, South Carolina, and a fully entitled development site in Chapel Hill, North Carolina.
Both outpatient assets in Summerville are fully leased. The Chapel Hill site carries full entitlements for future development but is not currently income-producing.
The transaction combines stabilized, income-producing space with development potential. Hammes sold the portfolio. Healthcare Realty Trust bought it.
The assets sit in the Charleston area and North Carolina markets. The deal reflects ongoing capital interest in medical office and life sciences-adjacent properties.
Healthcare Realty Trust is a publicly traded real estate investment trust focused on medical outpatient buildings. Hammes is a healthcare real estate developer and investor.
The sale price of $56 million covers the two operating buildings and the entitled land parcel. No per-square-foot pricing or capitalization rate was disclosed.
The Deployment Angle
Family Office Real Estate Daily Desk · our analysis, not the source's
A $56 million portfolio that pairs stabilized lease income with a development site invites two distinct underwriting paths. The equity cheque for the leased Summerville buildings depends on their cap rate, which the source does not state. The Chapel Hill parcel carries entitlement risk behind you but construction and lease-up risk ahead. Co-GP capital alongside Healthcare Realty would allow fractional exposure to both without building a development team. Direct ownership demands separating the income piece from the development piece and pricing each independently.
Medical office in secondary Sunbelt markets has drawn institutional capital because of long tenant leases and defensive demographic trends. If you underwrite the Summerville buildings as a separate-account play, model lease rollover and replacement cost in a market where construction has lagged population growth. Price in tenant improvement and leasing commission reserves that reflect healthcare tenants' build-out requirements.
The Chapel Hill site is a call option on life sciences or research-adjacent medical use. Underwrite construction cost per square foot, pre-leasing risk, and time to stabilization. If the entitled density exceeds what current rents support, the site may sit until market fundamentals improve. A family office with no construction capability should value the site at zero or negotiate it out of the package unless partnering with a vertically integrated operator who can build on balance sheet and tolerate lease-up drag.
