VCM announces the sale of Smyrna Physicians Pavilion and the return of Robert Garcia as Managing Director of US Medical Real Estate
27 April, 2022
Bahamas, April 27, 2022 – US institutional investor and private equity firm VCM Global Asset Management announces the sale of Smyrna Physicians Pavilion, a 35,036 rentable square foot medical office building. Smyrna Physicians Pavilion is located in Smyrna, Tennessee, approximately 19 miles southeast of Nashville. The property is positioned adjacent to TriStar Medical Center, a 109 bed -multi-specialty hospital owned by HCA.
The sale generated an approximate 21% net IRR[1] for investors at a multiple of 1.4x during the 22-months VCM operated the building. The positive return on the sale underscores VCM’s medical office strategy of buying moderately-sized, well-located medical office properties within sub-markets experiencing favorable market trends.
In addition to the sale, VCM announces the appointment of Robert Garcia as Head of US Medical Real Estate. Garcia, who led the acquisition of Smyrna in January 2020, rejoins VCM as Managing Director.
“At VCM we are looking for more acquisition and development partnerships opportunities in medical real state, which has proved to be an attractive asset class that is resilient in the face of inflation, recession and the pandemic. We now see a tendency for more investors to move into this asset class”, says VCM Managing Director of US Medical Real Estate, Robert Garcia.
“We are excited to have Robert García back on the team and help us further grow our US medical real estate business in the US. At VCM Real Estate we strategically acquire properties with strong operating histories and income during different market cycles. As a team, we have strong risk management values that stem from being the principal investors in every transaction”, added VCM Founder & CEO, Tom Vukota.
VCM is a vertically integrated investment platform focused on real estate, private equity and alternative investments opportunities. The company has a rigorous underwriting approach that seeks to identify investments that generate compelling risk-adjusted returns, attractive streams of income, and capital appreciation opportunities, all while protecting and preserving principal capital.
[1] IRR or internal rate of return is the profitability offered by an investment. It is the percentage of profit or loss that an investment will have for the amounts that have not been withdrawn from the project. It is a measure used in the evaluation of investment projects to check the viability of an investment. It allows investments to be compared with each other. The higher the IRR, the better the investment.
About VCM Global Asset Management
Founded in 2010 and focused on alternative investments in venture capital, private equity, private equity real estate and public market opportunities, VCM and its affiliated companies manage over USD1 billion on behalf of institutions, family offices, and high-net-worth individuals. VCM’s diverse range of investment strategies encompass venture capital, real estate, private equity, life insurance policies, medical receivables, and public market strategies. Focused on prioritizing common sense investing and preservation of capital across all their strategies. For more information visit: www.vcmgam.com
About Draper Cygnus
Draper Cygnus invests and partners with emerging companies focused on rebuilding society through innovative technologies and empathy, breaking down traditional barriers and developing borderless communities. As a Venture Fund, our thesis is to back those entrepreneurs executing on innovation platforms that are the building blocks of the next paradigms, leveraging deep tech and innovation to shift our society towards sustainability and decentralization. For more information visit: drapercygnus.vc
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