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White Papers

Selling Your Medical Practice and Real Estate

What owners need to know — considering both sides of the coin

August 10, 2026
Physician Growth Partners × Matthews Real Estate Investment Services

Two valuable assets, connected by a single lease

Physicians who own both their practice and the real estate hold two valuable, separately marketable assets. Today both are in high demand: private equity and strategic buyers are competing for physician practices, and institutional real estate investors are competing just as hard for the MOB and ASC real estate.

While it may seem logical to pursue the two transactions separately, doing so could significantly impact overall value. The practice (the “OpCo”) and the building (the “PropCo”) are connected by a single document — the lease agreement — and the rent set in that lease moves value between the two. Setting rent without considering both sides can increase the apparent value of one asset while unintentionally reducing the value of the other.

In this white paper:

  • Two Markets, One Decision — why practice and real estate demand are peaking together.
  • How the Lease Links Practice and Real Estate Value — EBITDA multiples, cap rates, and defensible Fair Market Value rent.
  • A Real-World Example — how a coordinated sale changes the outcome.
  • Building the Advisory Team — who you need at the table, and when.

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Data You Can Rely On

Our insights are built on rigorous research and reputable data sources to deliver reliable, actionable intelligence for healthcare operators, investors, and advisors.
Industry Reports
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Transaction Databases
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CMS Data
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Healthcare Market Studies
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Private Equity Research
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Company Filings
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Proprietary Intelligence
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Other Public Sources
Additional government publications, public datasets, healthcare associations, industry surveys, and referenced sources cited throughout the report.
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Considering a healthcare transaction? Start with a confidential conversation.

Whether you are considering a recapitalization, merger, or full sale, or simply want to understand your options, PGP's senior bankers are ready to help.

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Considering a healthcare transaction? Start with a confidential conversation.

Whether you are considering a recapitalization, merger, or full sale, or simply want to understand your options, PGP's senior bankers are ready to help.

"*" indicates required fields