July 15, 2023
SOLD – NORTHWAY SURGERY AND PAIN CENTER – HALFMOON, NEW YORK
JH Winokur, Inc. is pleased to announce the closing of a healthcare real estate sale-leaseback transaction for The Northway Surgery and Pain Center. The free-standing multi-specialty Orthopedic & Pain outpatient surgery center is located in Halfmoon, New York, serving the Albany/Schenectady region. Northway Surgery and Pain Center offers a patient-friendly and cost effective alternative for outpatient surgery with advanced equipment, experienced staff and physicians, and access to the area’s leading orthopedic surgeons and surgical procedures in a convenient location.
The 4 Operating Room Center’s primary service area includes the counties of Albany, Rensselaer, Saratoga, Schenectady, Warren and Washington. The Center consists of three class B operating rooms and one class C operating room with essential support spaces. The eight pre-op and eight post-op bays take advantage of being located against perimeter walls, offering desirable natural light into the spaces. The patient and family waiting area is spacious and comfortable and includes cathedral ceilings and large spans of glass in the entry. The center is AAAHC certified and designated as multi-specialty by New York state DOH. Major insurers include UNH, MVP/ Cigna, CDPHP, Aetna, MC, Medicaid, Aetna, Anthem, BSNENY/Highmark, and NY Workers Comp No Fault.
The Northway Surgery and Pain Center was founded by independent physicians from The Albany & Saratoga Centers for Pain Management and New York Pain Management, teaming together to provide more
cohesive services to the Capital Region. Halfmoon is a suburb in the Albany-Schnectady-Troy New York Metropolitan Area, which has a population of approximately 900,000. The site benefits from the $134,009 average household income within the 5-mile radius, 338,361 population in 10-mile radius, 639,283 population in the 15-mile radius and being located in the fastest growing county in Upstate New York and part of the Albany Capital-Saratoga Region.
The property was sold under the terms of a 15-year absolute NNN lease with the physicians maintaining a minority ownership interest in the real estate. This allowed for the physician real estate owners to receive maximum value for the property, while retaining equity in the real estate at a discount.
For more information contact Jason Winokur.
