Mountain View Regional Hospital established itself as a premier neurosurgical and spine hospital in Wyoming, and Healthgrades ranked it among America’s 100 Best Hospitals for Specialty Care™. The 23-bed hospital and attached clinic were operated by a joint venture between a physician group and national surgery center operator. In 2019, Wyoming Medical Center (WMC), a regional hospital and the largest system in Wyoming, acquired the physician group and took over the lease. WMC has since entered a contract to join Banner Health.
The leases on the hospital and clinic were set to expire in 2023 and 2019, respectively. After purchasing the property, Remedy negotiated directly with WMC’s executive team to achieve the health system’s goal of much-needed upfront savings. Remedy was able to offer a double-digit reduction in the rental rate, abatement, and substantial tenant improvement allowance in exchange for a new 12-year lease. In addition, Remedy is assisting WMC with repositioning the campus to fit its ambulatory network strategy.
Transaction Date: February 2015
Best Hospitals for Specialty Care™
in rental rate with attractive renewal terms
“MBRE has been a phenomenal partner! They are responsive to ensure our needs are met and are open to suggestions that will make the property better.”