SAN FRANCISCO, June 27, 2017 /PRNewswire/ -- When Nathan Sassover, Founder/CEO of HealthMedica Inc., an emerging Longevity Centers Network, was approached by $512 billion Insurance and Asset Management group Principal Insurance Group/Principal Financial prior to his meeting with their Senior Asset Managers Doug Kinstle and Jay Fisher, it was far more than merely well timed.
HealthMedica had its eye on the burgeoning Bellevue WA Metro market with its highly-desirable, health-oriented, lifestyle affinity population in one of the fastest growing Metro centers in the entire US.
The 3 building Office Campus is known as One Twelfth & Twelfth, indisputably one of the highest profile office complexes in the prime Bellevue /Seattle metro market near the Microsoft campus.
Following their initial June 2016 meeting, the 3 bldg Bellevue complex was contending with a confirmed 30% vacancy rate and there was the expected concern in the challenge of no occupancy if the main ground floor gateway to the 3 building hub following the exodus of Overlake Health, a long-established healthcare resource to the entire Pacific Northwest region. Overlake's departure translated immediately to the 70% occupancy level which remained constant for several years in a robust compelling market driven by a mix of high-density, tech-oriented companies with a multitude of financial and business infrastructure resources.
Although over time a few additional tenants committed to the site, the ongoing challenge of a significant vacancy level continued, and it was HealthMedica's signing of a long-term, ground-floor anchor lease in July 2016 for 26,138 sq ft. that provided the critical mass to neutralize the multi-year, high-vacancy status and valuation challenges a 30% vacancy rate would have on asset value and contemplated strategic options
Following HealthMedica's execution of the lease, the net effect of zero-vacancy status attributable to the HealthMedica Lease of the primary anchor ground floor comprising 26,138 sq. ft. yielded an immediate, fully-leased site.
This strategic milestone enabled Gemini Rosemont to conclude a $108,000,000 refinancing with Bank of America within weeks of the consummation of the HealthMedica Lease. Upon completion of the sale by Principal to Gemini in December 2016, the refinancing proceeds rapidly enabled Gemini to recoup 50% of its full-cash purchase of the Bellevue One Twelfth & Twelfth, three building campus based on the property sale price of $217 million.
This sequence of events and highly-favorable outcome for both buyer and seller is best expressed by Principal Financial's local real estate advisory group's Vice President, Jeff Watson, of Broderick Group when he conveyed the consensus expressed by Principal's team and all advisors to the transaction, following their initial meeting with HealthMedica as tenant candidates for the ground floor site of 26,138 sq. ft, "This is an all go deal."
After HealthMedica's affiliate site development group Architecteon presented initial previews of its dramatic architectural environment for its entire building occupancy of its new Las Vegas Longevity Center in May, Gemini Rosemont Executive Vice President Jason Kuester's recognition and favorable response to the design aesthetics and architectural innovation of HealthMedica's clinic sites further validates the added value of HealthMedica's Tenant Improvement phase to achieve far more additive value to the site than the more traditional approach to a pre-occupancy renovation.
HealthMedica ... Thinking Outside the Box ...in the BigBox. The Tidal Wave in the Implosion of On Site Retail Shopping
The HealthMedica Bellevue Longevity Center site, comprising 26,150 sq. ft., the entire ground floor of one of three buildings of the campus, is also intended to serve as an iterative evolvement and wellness platform HealthMedica defines as Age Management Therapeutics, which originated in 2002 in one clinic in Beverly Hills CA. and from inception has targeted the spectrum of Age Related conditions endemic to the Boomer generation.
Nathan Sassover continues:
"HealthMedica believes the tidal wave gripping retail with mass store closures of entire chains compels a macro view of the reassessment, repurposing and reconfiguration of the onsite shopping experiential aspect of modern life.
From our perspective we see the organic evolution from our current clinic configuration to a larger but rationally scalable expansion to accommodate our Age Management, NeuroSpa and OncoSpa Therapeutic and Preventive platforms.
HealthMedica's IntraTherapies clinical protocols have verifiable from inception in 2002 never advocated, nor has any of its IntraTherapies clinical protocols ever utilized any form of HGH (human growth hormone), Bio-identical hormone or HRT hormone replacement therapies within any of its wellness programs, all of which have increasingly been shown by the FDA and the AMA (American Medical Association) to initiate enlarging side effects and increased risks for a broad spectrum of potential illnesses including CVD (cardiovascular disease), diabetes /metabolic conditions, mild to major mood disorders and cancer.
With the advent and evolution of our DNA Therapeutic Infusion Centers, the opportunity to define a health/wellness program far beyond redundant and retail cosmetic experiences undergoing radical attrition, we believe would magnetize a resurgence of onsite presence as a high-impact rebirth we define as HealthMedica Med Malls.
We envision HealthMedica Med Malls as on site health/wellness experiential Hubs comprising five healthcare categories within the Longevity Sciences domain. A seamless migration to the larger footprint retail sites which are victims of the aggressive incursion of online shopping and are continuing to vanish at an unprecedented level." We envision a seamless migration of health/wellness centers within the broader context of multi-category on site shopping which are increasingly disappearing due to the incursion of online shopping.
Founded by technology inventor/ health sciences innovator, Nathan Sassover, HealthMedica Inc., and its evolving Longevity Medical Centers unify Age Intervention Medicine™ and evidence-based personalized programs within a physician administered clinical setting.
HealthMedica HealthScience Centers address three primary components of the enlarging healthcare challenges confronting aging Baby Boomers encompassing age-related degenerative disorders ranging from cognitive decline, mood disorders, inflammatory/ autoimmune diseases, and cancer.
HealthMedica ( www.Healthmedica.com ) and its affiliated clinic partners define a transformative model advancing both preventive and interventional therapeutics. HealthMedica's focus is on advancing safe and effective treatment programs, which since, 2002, have demonstrated evidence-based, clinically-validated therapeutic platforms also integrating the dynamics of measurable quality of life aspects within the totality of health enhancement.
HealthMedica brings a singular focus to elevate the mindset of prevention of disease commencing with a state of mind which empowers and amplifies the body's resources to redefine the possibilities of healthful aging.
About Principal Financial Group
The Principal Financial Group is a global financial investment management leader headquartered in Des Moines, Iowa. The Principal Financial Group offering business individuals, institutional clients and financial advisors a wide range of financial services including: retirement services, insurance solutions and investment management. Principal's diverse family of financial services companies includes a national network of financial professionals and has $619.7 billion in assets under management and serves 1 million customers with offices in 9 countries throughout Asia, Australia, Europe, Latin America and North America. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG.
About Gemini Rosemont
Gemini Rosemont is a fully integrated real estate platform that invests in and manages high-quality commercial office properties throughout the U.S. Headquartered in Santa Fe, New Mexico, Gemini Rosemont employs over 200 professionals and has regional offices in Albuquerque, Atlanta, Chicago, Dallas, Denver, Houston, Los Angeles, New York, Peoria, San Antonio and Tulsa. Over the past 25 years, Gemini Rosemont has generated an impressive investment performance track record and established deep relationships with buyers, sellers, lenders and brokers. The company's real estate portfolio consists of more than 100 buildings spanning over 13 million square feet in over 20 states. With deep financial resources and extensive real estate expertise, Gemini Rosemont is well positioned to serve its investors and tenants with distinction.
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SOURCE HealthMedica Inc.