McKinney Represents Molina Healthcare in Major Sale Leaseback in Long Beach, CA and Columbus, OH
McKinney Capital & Advisory, a national tenant representation firm, announces that it has recently represented Molina Healthcare in a $158 million sale and leaseback transaction.
LONG BEACH, CA & COLUMBUS, OH – McKinney Capital & Advisory, a national tenant representation firm, announces that it has recently represented Molina Healthcare in a $158 million sale and leaseback transaction with the dedicated net lease group of Angelo Gordon & Co., AGNL Clinic, L.P. The sale/leaseback was a combined transaction for Molina’s headquarters office complex in Long Beach, CA and for Molina’s office building in Columbus, OH.
The McKinney team was led by Damian McKinney. In addition, Western Reserve Partners LLC, led by Managing Director Victor Faris and supported by Associate Matthew Reus and Analyst Andrew Foster, served as a co-advisor and placement agent to Molina Healthcare, Inc.
The Long Beach corporate office complex is approximately 500,000 square feet and was purchased in 2011. It is comprised of two conjoined 14-story office towers on about five acres of land. The building houses the Company’s corporate headquarters and its California health plan subsidiary, Molina Healthcare of California. Commenting on the transaction, Mr. McKinney said, “McKinney focuses on clients’ real estate and financial needs. This is another example of how McKinney has raised hundreds of millions of dollars during these current unstable times in the economy.” The approximately 160,000 square feet office building in Columbus, Ohio, was acquired in December 2012 and serves as the principal health plan operations of subsidiary, Molina Healthcare of Ohio.
ABOUT MOLINA HEALTHCARE, INC.
Molina Healthcare, Inc., a FORTUNE 500 company, provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program. Our licensed health plans in California, Florida, Michigan, New Mexico, Ohio, Texas, Utah, Washington, and Wisconsin currently serve approximately 1.8 million members, and our subsidiary, Molina Medicaid Solutions, provides business processing and information technology administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, and drug rebate administration services in Florida. More information about Molina Healthcare is available at www.molinahealthcare.com.
ABOUT MCKINNEY CAPITAL & ADVISORY
McKinney Capital & Advisory is a full‐service real estate firm focusing on the representation of tenants to maximize the value of their real estate assets. We represent companies in all stages of the acquisition, disposition, and financing of commercial real estate
Providing a comprehensive approach, McKinney Capital & Advisory is a client-focused company with advisors in multiple specialties, including brokerage, tenant representation, asset management, portfolio management, investment analysis, and development.