Minnetonka Medical Center

April 9, 2019

Class A alignment of vision and strategy

When Mark Davis and The Davis Group decided to sell eight Class A medical buildings, there were several buyers interested in the facilities. However, John Thomas and DOC quickly set themselves apart.

“John is engaging, smart and straightforward,” says Davis. “It didn’t take long to feel confident that he has the integrity to make him and Physicians Realty Trust a great partner. Everyone I have met or dealt with from DOC continues to build on that initial impression.”

What started as a typical building sales process, quickly evolved into the beginnings of a long-term partnership. Davis’s decision to sell to DOC was based on four main factors:

• A similar vision for the future – Davis looked for a buyer that would take care of his current tenants the same way he would if The Davis Group continued as the majority owner of the buildings.
• A long-term hold – Davis wanted a partner that had interest in holding the properties long term. A number of prospective buyers would only commit to a 3-5 year hold-and-sell strategy.
• An opportunity for partnership – Davis was interested in staying on as a minority owner in the properties and wanted a partner that would allow The Davis Group to continue to manage and lease the buildings.
• A strategic partnership – Davis looked for a partner he could build a relationship with that would benefit both organizations.

“DOC quickly distinguished themselves as a partner that could fulfill all of our major sales and partnership objectives,” said Davis. “I wanted to remain as a long-term partner and was concerned about the treatment of our tenants. These two factors were two fundamental considerations that drove our transaction.”

Davis looks forward to continuing his partnership with DOC. “I’m comfortable that their goals and objectives are in line with mine and I want to be part of their strategy and vision for the future,” he said.