Kaleida Health Portfolio

Kaleida Health is the largest healthcare provider in Western New York with four hospitals, more than 80 outpatient clinics, and two long-term care facilities. Kaleida’s urology, oncology, and imaging divisions occupy this four-building portfolio. These high-acuity divisions feature extensive interior buildouts and advanced medical equipment, including five linear accelerators, MRI, CT, ultrasound, and X-ray.

While analyzing the investment with the third-party seller, Remedy structured an incremental purchase to help the seller achieve tax efficiency for their proceeds. In executing the acquisition, Remedy negotiated a new long-term lease for 100% of the portfolio’s rentable area with Kaleida Health, which expects continued growth and expansion going forward. Remedy also improved the buildings with roof replacement, structural repair, parking resurfacing, and HVAC replacement.