National Dental Healthcare REIT Announces Large Closing
CHICAGO–(BUSINESS WIRE)–National Dental Healthcare REIT, the nation’s first and only dental-specific Real Estate Investment Trust (REIT) of scale, announced today it has purchased multiple clinic properties of a dental-specialty group, Carolinas Centers for Oral, Facial, Cosmetic & Dental Implant Surgery. The 11 properties located in North Carolina and South Carolina add to National Dental Healthcare REIT’s fast-growing presence throughout the country.
National Dental Healthcare REIT was formed in mid-2020 by Thurston Group (“Thurston”), a private equity firm focused on investments in healthcare service companies. Since then, the REIT has quickly expanded to include 75 properties in 12 states including Texas, Arizona, Michigan, Ohio and Kentucky.
“We are always looking to partner with doctors who own premier dental real estate — and we are excited to bring our unique REIT advantages to the specialists of Carolinas Centers for Oral, Facial, Cosmetic & Dental Implant Surgery,” said Thurston Group Chairman and CEO Patrick J. Haynes III. “They can focus on their practice rather than on building management while increasing liquidity and opportunities for growth.”
The properties purchased match National Dental Healthcare REIT’s profile for class-A, market-leading facilities with up-to-date technology, located where demographic trends indicate robust growth in the market.
“This was an excellent opportunity for the specialists in our group,” said Partner and Oral Surgeon Dr. John Nale of Carolinas Centers for Oral, Facial, Cosmetic & Dental Implant Surgery. “Our ownership shares in the REIT will produce dividends while adding diversification to our investments.”
About National Dental Healthcare REIT
National Dental Healthcare REIT partners with dental care providers in the general dental and specialty dental fields who own their real estate. National Dental Healthcare REIT provides these dental property owners an attractive, tax-efficient sale structure with dividend income and the opportunity for appreciation, among other benefits, while removing the risk and hassle of property ownership. From its headquarters in Chicago, Illinois, the REIT has grown to have 75 properties under management in 12 states in less than two years since its inception. For more information, please visit www.nationaldentalreit.com.
About Thurston Group
Thurston Group is a Chicago-based private equity firm that focuses on building industry-leading companies in the healthcare and related business services sectors. Thurston has an extensive track record of partnering with physicians and building fast-growing healthcare businesses, including Smile Doctors, U.S. Endo Partners, US Oral Surgery Management, South Georgia Dental Management, Gen4 Dental Partners, Arc Behavioral Health, Options Medical Weight Loss and U.S. Orthopaedic Partners. Over its 35-year history, Thurston Group has returned over $4B of invested capital. For additional information about Thurston Group, please visit Thurston Group’s website at www.thurstongroup.com.
Contacts
Dallas Margeson
National Dental Healthcare REIT, Inc
[email protected]
229.347.4507
