Blueprint was engaged as the exclusive advisor to D&C Realty, the real estate ownership group of a large, regional independent primary care group that owned a 38-asset, 415,180-square-foot medical outpatient portfolio clustered within a 150-mile footprint across Central Pennsylvania. Blueprint’s mandate was to help D&C Realty’s physician owner-users unlock liquidity tied up in the real estate holdings assembled over several decades. To do so, Blueprint structured a new long-term absolute NNN master lease that consolidated a large, varied portfolio into a single cohesive investment, allowing the incoming landlord to own it passively while benefiting from stable, annually escalating cash flow across all locations.

The portfolio stretches from Williamsport and the West Branch Susquehanna Valley south through Selinsgrove, Sunbury, and Lewisburg into the Harrisburg–Hershey corridor and on to York and Lancaster County. It is anchored by the tenant's 104,942-square-foot headquarters and medical campus in Selinsgrove. At closing, a new 15-year absolute NNN master lease was signed by the tenant, Family Practice Center PC (FPC), across 30 single-tenant locations and 8 multi-tenant locations, with the majority of sub-tenant occupancy coming from Geisinger (Moody’s: A2) and Wellspan Health (Moody’s:Aa3). This new lease shows the long-term commitment FPC has to not only the communities they serve, but the patient care within those communities.

Blueprint's Medical Properties team ran a targeted national marketing process, positioning the offering as a rare opportunity to acquire the real estate platform tenanted by a dominant, growing physician practice in a supply-constrained market where the 65+ population within 50 miles of Harrisburg is projected to grow 11.8% over the next five years. The process drew competitive interest from a deep pool of healthcare and single tenant net lease investors.

"This transaction reflects a core strength of our medical properties team: helping physician owner-users unlock the capital in their real estate while they remain in place as tenants and continue practicing in the same facilities,” stated Steve Thomes, “The sale also reinforces the depth of investor demand for medical outpatient buildings, a segment of healthcare real estate that keeps expanding as care delivery shifts from hospital campuses to off-campus settings. We're grateful to our clients for their trust, and we're proud to have structured a solution that worked for every party involved." – Steve Thomes, Executive Managing Director & Head of Business Development, Blueprint