Wealth Management Real Estate
March 2022 Forum
WMRE March 2022 - Ben Reinberg, Carmen Ventrucci - Alliance CGC
David Bodamer: [00:00:00] Hello and welcome to the second session in our first quarter forums entitled Capital Raising and Investment Trends. Produced by Wealth Management Real Estate. This session is entitled Secure Stable Returns: Why You Need to Add Medical Office Buildings to Your Portfolio Today. This session is sponsored by Alliance. Apologize for the helicopter, if you can hear that. My name is David Bodamer, editorial director of wealth management real estate. And I'll be your host today. In a moment, I'm going to be turning things over to our speakers. But first, let me explain how you can get the most out of today's event to improve your viewing and listening experience.
David Bodamer: [00:00:45] You can move your webcast windows around by dragging on the title bar or resize them by clicking on their lower right corner. In addition, at the bottom of your screen, you'll find multiple application widgets. By clicking on these buttons, you can open and close widgets on your screen, but this will not remove you from the webinar. We do also welcome questions about today's topic and our speakers will answer as many as they can following this presentation. You can feel free to submit your questions to the queue at any time. All you have to do is type in to the Q&A window on your screen and hit the submit button.
David Bodamer: [00:01:23] Also, please note that today's webinar has been accepted for one CE credit our towards the ADP designation program. In addition, Investments in Wealth Institute has accepted this program for one hour of CE credit towards the C. I am a c WAC IMC and are certifications. Instructions for submitting for those credits are available in the resource list widget on your screen. And one more note is that today's session is being recorded and an on demand viewing will be available within a day or two. You'll be notified by email when that archive goes live. With that I'm going to introduce our first speaker and he is going to introduce the other panelists after he speaks. But first we have with us Ben Weinberg, who is the CEO of Alliance Consolidated Group of Companies. With that, I'm going to turn the floor over to Ben.
Ben Reinberg: [00:02:25] We are excited you're here today to see how investing in medical office buildings can provide you safe and secure returns. I have a question for all of you. Who has visited any sort of doctor in the past three years? Well, me too. I was at the doctor just the other day. So go ahead and answer the poll on the screen. We will wait. See everyone. My family is very healthy. However, I feel someone in my family, and even my dogs are visiting the doctor every single week, and a lot of you are just like me. We all go through similar experiences within our lives.
Ben Reinberg: [00:03:15] So if you can invest in a historical, stable, cash flowing investment with upside. You'd invest in that, wouldn't you? That's why I invest my personal capital in medical office buildings, and I encourage you to consider it too. See medical office buildings are a fantastic option for those investors needing consistent cash flow and are dissatisfied with risky alternative investments. See Medical Office Building Investing provides low risk cash flow and have proven to be resilient in any market. Even a pandemic. See anyone can pay you a preferred return. We had alliance, are expert problem solvers, only providing you the best way to invest today, yielding above market returns.
Ben Reinberg: [00:04:18] For the next 30 minutes or so, we're going to talk about investing in medical office buildings and provide you with some key considerations that we would provide our investors. Specifically, we're going to talk about what makes a medical office building a secure investment. What makes a medical office building a stable investment. And then we're going to show you a couple of case studies on a few of alliance medical office building assets that we have sold. And then we're going to provide you questions that you need to ask before making any medical office building investment.
Ben Reinberg: [00:05:01] My name is Ben Reinberg. I am the founder and CEO of Alliance Consolidated Group of Companies. For over the past 27 years, we've been providing our investors exceptional returns. We built an excess of nine and one half million square feet of commercial real estate, and we have bought and sold hundreds of properties throughout our history. See, we don't work with everyone. We're very selective with the properties we acquire, our lenders we work with and especially our investors, we qualify and interview everyone, including our investors, in order to make sure our relationship is a good fit for each other. So here are the three questions you need to ask anyone before you start investing in medical office buildings. Number one is, how do you guarantee a high quality tenant? Number two is how do you add value to the investment? And the third one is what gives you a successful track record? So before we get into that, let's take a look at what a what a medical office building is.
Ben Reinberg: [00:06:23] See, medical office buildings are traditionally real estate buildings that are used primarily for medical practices and procedures. While, traditionally, they were located near hospital campuses due to physician referral patterns. Well, now they've responded to the demand of the market and can be found in more suburban and rural markets as well, closer to the patients home. And medical office buildings can provide all types of medical services, as you can see on the screen, such as dialysis, radiology, orthopedic gastroenterology, cardiology, outpatient surgery facilities, dental and even veterinarian services. Medical office buildings can be owned by private investors, just like Alliance, physicians, hospital groups, real estate investment trusts, otherwise known as REITs and other institutional investors.
Ben Reinberg: [00:07:24] See, here's the reason why medical office buildings are pandemic and recession proof. The human body is never going out of style and it never will. That's why you're interested in medical office buildings. You know this already. That's why you came to this webinar. We proved to you in the poll that most of you have gone to the doctor recently. Well, generally speaking, Alliance acquires medical office properties with tenants already in place so we can produce safe, secure and profitable investments. One of the key considerations to medical office buildings are the tenants. And that brings us to our first question you must ask before investing in medical office buildings.
Ben Reinberg: [00:08:19] How do you guarantee a high quality tenant? Well, let's take a step back. We want high quality tenants because they pay the rent and provide stable cashflow and returns to our investors. Having a high quality tenant is one feature that makes medical office buildings so stable. Due to our tenants businesses, they are higher caliber tenants who are very sticky. Think about it, our tenants have a significant investment in their space, such as capital improvements, medical equipment, extensive plumbing, electrical power. The list goes on and on. And once they build roots and a presence in their communities, they don't leave. So all these characteristics of a medical office building make the tenant sticky. They don't want to move because of the significant expense, the barriers to get into a new market, licensing challenges and on and on. There is less risk of vacancy in medical office buildings than any other commercial real estate investment which provides you more stability. So, take a step back. Put yourself in the tenant's shoes for a moment. Could you imagine spending millions of dollars in a property and then have to move? How would that affect your patients, your revenue, your company's culture? That is why they don't move. That is why we love what we do. Stable. Secure and profitable cash flowing investments.
Ben Reinberg: [00:10:08] So even though our our tenants are high caliber and sticky, you must qualify them. Not all medical practices are created, equal. At Alliance, we only work with tenants that fit our core values. Each and every investment, we thoroughly review our tenants financial statements, our tenant investment history at the property, patient counts, doctor's bios, working at specifically at the specific facility tenants, capital improvement budgets and their role within their communities. Additionally, we meet with the city where the property is located in order to understand the history in any nuances of the asset we are acquiring.
Ben Reinberg: [00:10:58] So now that we know why medical office building tenants are so stable, let's talk about the second question you should be asking. When investing in medical office buildings, always ask how do you provide value? Well, due to our thorough due diligence, we're able to add value during the acquisition process by assuring we select medical properties that not only to protect our capital but to provide upside throughout the investment process. We review hundreds of properties every week in order to provide the most secure, stable and profitable medical office buildings in the marketplace. We invest throughout the United States in areas with great health care markets, markets that are highly, densely populated, areas with rapid growth, and in areas with good health care policies. Well, generally speaking, we do not invest in specific market where it snows. Folks are moving out of these areas.
Ben Reinberg: [00:12:10] So we have a significant presence in the south, the southeast, the southwest, the west and mountain west regions throughout the United States. Our acquisition criteria requires that we have at least 50,000 people in a five mile radius of our properties. Rent growth in the initial lease term, an abundance of parking, outstanding access, great locations, well capitalized tenants and a significant investment by our tenants into the property. Our criteria puts us in a position to add value and provide outstanding returns to our investors. Our expertise increases our investments value at alliance, we provide our investors security because we know how to add value to these medical properties. We've been doing it for decades. Our investors benefit from our value creation from the inception of the acquisition, from lease renewals and extensions, rent increases, credit enhancements, along with a deep rooted knowledge of all the markets we invest in. See, our investors see the value we create through the fantastic returns that we provide throughout and at the end of the investment cycle. So let me show you a couple examples of many of the assets we bought and sold, and you could see what we're talking about.
Ben Reinberg: [00:13:50] In the first example is Palmetto Imaging, which was located in Columbia, South Carolina. We had to get very creative with this asset. One of the new nuances of medical office building is parking. Tenants need as many parking spaces and to be located as close to the front door as possible. See, our tenants do not want their patients walking across busy streets, rough terrain, and they need the ability to have their handicapped patients to have easy accessibility to the entrances. We're going to talk about problem solving later in this webinar, but I wanted to give you an example of how we solve problems to create value. So in this example, we exchanged air rights above our building for additional parking spaces that our neighbor controlled. Our neighbor was building a large apartment complex next to us and didn't want us blocking their tenants view of the city. It would impinge on the value of their property. So the solution for the parking allowed us to offer patients additional, easy and accessible parking with close proximity to the entrance. So what happened? Well, our tenant renewed on a long term lease. We were able to get an increase of rent at the renewal, and we obtained a credit enhancement via corporate guarantee from the parent company of our tenants. And you could see it came out to about a 30% IRR for our investors for that specific investment.
Ben Reinberg: [00:15:38] The second example was an orthopedic facility in Libertyville, Illinois. At the time of our acquisition, our tenant Illinois bone joint was growing and expanding throughout the Chicago area. The challenge with this investment was we acquired this property with a short term lease that was just not marketable to the investment community. The rent was flat. The lease expired in a couple of years and there was obligations on the landlord that were cumbersome. However, we understood the tenant's investment at this property. We understood the barriers to entry for the tenant to relocate, the great real estate fundamentals, and the growing niche within the medical industry, which was orthopedics. So from our experience, we knew we had a great investment where we could add value and that's exactly what we did. See at Alliance, we add a tremendous amount of value through negotiating and extending the tenants lease to 15 years. We received a 15% increase in rent at the renewal with annual escalations and more attractive lease terms throughout the lease in order to provide a stable, secure cash flow for any prospective future buyer. So what was the end result from this? It was an investment, as you can see, that provided a 34% IRR and tripled our investors' equity in a short period of time.
Ben Reinberg: [00:17:15] I want you to take a look at the pro forma returns for each investment on this slide. You can see we underwrite in pro forma our investments with conservative returns. Throughout my career, I always adhere to that if I can protect your downside, the upside will always take care of itself. These two investments are perfect case studies that represent how alliance successfully manages investments. See, anyone would be excited about our original pro forma returns. But everyone was thrilled by our performance at the end of these investments. 34% IRR on a medical property investment. Where do you find that? Well, you call us at Alliance. That's where you find these opportunities to make money.
Ben Reinberg: [00:18:14] So we've talked about tenants of medical office buildings. We've talked about how they increase value. Now we're at our third question that you should ask before investing in medical office buildings. What has historically created your successful track record? Well, there's three things we consider as essential to our successful track record. It's the ability to solve problems, it's our solid understanding of real estate fundamentals and our ability to hold.
Ben Reinberg: [00:18:51] You must be an excellent problem solver to do well in medical office. Challenges arise in all areas of life, and this is no exception. You need someone familiar with the nuances of medical office buildings. There's medical equipment, parking lot size, HIPA regulations, and a slew of other considerations that's best to leave to someone like Alliance, who have experience and can solve any problem that arises.
Ben Reinberg: [00:19:27] So here's why we're outstanding problem solvers. We're resource rich with a vast network of commercial real estate professionals. In all realms of our business. We're well networked. We have deep rooted relationships with brokers, lenders, consultants, attorneys, property tax mitigation and cost segregation consultants in every single region we invest in. They are essential in providing us value as well as mitigating risk throughout the investment lifecycle. Additionally, we have 200 plus years of experience with our leadership team with diversified backgrounds and expertise.
Ben Reinberg: [00:20:18] So our second point is real estate fundamentals. So we adhere to consistent real estate fundamentals that sustain themselves for generations. Remember, safe, secure and profitable returns. Well, in our due diligence process, we research and review vacancy rates, absorption rates and market rent comparisons to our tenants. Current rent. See Understanding Real Estate Fundamentals help you mitigate risk and assists in adding value to your properties.
Ben Reinberg: [00:20:55] And lastly is the ability to hold. This is the number one trait we create in our investments. Folks, it's not about location, location, location. Yes, that's important. But the key to commercial real estate is the ability to hold. So if you look at the slide on the screen on the left, you can see that most people feel that real estate cash flow is just to send. And in some of our investments historically that has happened, and that is a true statement. However, if you look historically over time, real estate cash flows go up and down like moguls. And so to have the ability to hold, you have to have enough reserves, you need to have flexibility in your financing if you put financing on a property and you need to have an your staff with expertise to solve any challenges that arrive throughout the investment cycle.
Ben Reinberg: [00:21:54] So in our next slide, I want to show you one of the secrets to our success. With the ability to hold we're able to sell in any market at the peak of the market. That way we can maximize value. And also in turn, when we buy, we're able to look at the different cycles within our market and be able to buy in an opportune time.
Ben Reinberg: [00:22:23] So as we've discussed in the past 30 minutes or so, medical office buildings are a niche in the real estate market that's becoming more and more desirable. And as our population ages and requires more medical services, the need for high quality medical care is only going to increase. So our investments provide safe, secure and profitable returns and are a great way to diversify our investors portfolio. It's why our investments sell out so quickly. So we know that you want to start investing in medical office buildings today. So remember, ask these three questions. How do you guarantee a high quality tenant? How do you add value to the investment? And what is historically created your successful track record? I would now like to introduce Carmen Ventrucci. She is our director of investor relations here at Alliance, and she has some important questions for you. Carmen.
Carmen Ventrucci: [00:23:34] Thank you, Ben. That was great information. So as Ben said, my name is Carmen Ventrucci and I am the director of Investor Relations here at Alliance. My job and my privilege is to provide outstanding service to our investors. Our core values here at Alliance are transparency, integrity, consistency and expertise, nd you'll find that we embody all of those values when you invest and work with us. Ben just gave you a ton of wonderful information about investing in a medical office building. And I know you're going to want to start now. I'm excited to get to know you a little bit better. And I have just one question for you so I can do just that. So if you would please answer this poll that you see on the slide. What is the most important factor leading you to invest personally or to make the recommendation that your clients invest? Go ahead and answer. Is it internal rate of return? Is it Cash-on-cash return? Real estate asset class? Quality of the sponsor? Or something else?
Carmen Ventrucci: [00:24:54] So while we're waiting for those answers, let me take this opportunity to tell you just a little bit about our investors. Our investors love medical office buildings because they love conservative investments with upside. They have the ability to invest anywhere between $100,000 to several million, and they make their investment decisions very quickly. They respond well to our core values of transparency, integrity, consistency and expertise. And it allows us to provide a white glove service to them, creating those stable, secure returns that we have been talking about.
[00:25:40] So thank you, everybody, for answering this poll. Let's see what you guys have to say. Oh, my gosh. A little bit of everything. So for those of you that answered, internal rate of return. Great. I totally appreciate that. You're really going to enjoy our investments where we're averaging and IRR of 24%. For those of you that say cash on cash returns, also awesome. Our investments are very stable and able to provide those returns and we pay a quarterly preferred return that's consistently deposited directly into your bank account. Real estate asset class also made that up on the board. Awesome. So I'm sure you can all agree that investing in an asset that relies on the human body, and because the human body is not going out of style, as Ben said, it's a great way to earn those safe and secure returns. I mean, we showed you in the poll you guys took at the beginning of the webinar, 100% of you answered that, yes. You had been to a doctor in the past three years. And then we have a lot of people that said other also quality of the sponsor. Also great because here's the truth, guys. You can have the juiciest deal, the juiciest medical office building for you to invest in or any other investment, for that matter. If it's poorly managed by a sponsor who's not the best and not the strongest, that juicy deal, it's not going to come to fruition. So I'm really glad to see that people are saying quality of the sponsor is important.
Carmen Ventrucci: [00:27:16] So one question for you guys as we start to close out our time with you today. Would you feel confident in investing in something with an outstanding track record, Over 200 years of experience on the leadership team, and whose core values reflect your own with transparency, consistency, integrity and expertise? You would, wouldn't you? We can all agree that investing in medical office buildings is an incredible opportunity, especially with a sponsor who has a stellar track record. So please call me when you want us to interview you. We are very exclusive and we interview all of our investors to make sure we're the right fit. We want to understand you and build a long term relationships. So contact me when you want to chat. Our relationship is only going to benefit you and your clients. And I'm looking forward to speaking with all of you further. So, Ben, I see we have a couple of questions that came in through the Q&A. You want to provide some answers?
Ben Reinberg: [00:28:31] Absolutely. I would love to.
Carmen Ventrucci: [00:28:33] Okay. So the first question that came in was, what are your minimum and maximum investments for your funds?
Ben Reinberg: [00:28:43] It's a great question. Generally speaking, our minimum is 100,000 and our maximum is 10% of our equity. So to give you a live example, in the current fund that we are raising equity for, the ceiling for each investor will be $5 million.
Carmen Ventrucci: [00:29:03] Okay. Do you take non-accredited investors into your fund?
Ben Reinberg: [00:29:11] No. Generally speaking, we have a baseline. You have to be at least an investor to invest in our funds.
Carmen Ventrucci: [00:29:19] Okay. And then what types of returns do you expect?
Ben Reinberg: [00:29:26] Well, as you can see from our previous example, the returns are tremendous based upon the risk. However, on a quarterly basis we pay a current preferred return anywhere between six and 8% based upon the timing and the investment level of the specific investor. And we expect to double your investment within a five year period or less.
Carmen Ventrucci: [00:29:57] Okay. And I think you just answered this question. Generally speaking, how long until you exit the fund?
Ben Reinberg: [00:30:03] Yeah, typically it's five years or less.
Carmen Ventrucci: [00:30:06] Okay. And then what kind of leases do you acquire with your properties?
Ben Reinberg: [00:30:12] It's a good question. We blend our portfolio between short term and long term leases, and it's all risk adjusted depending on each specific acquisition.
Carmen Ventrucci: [00:30:27] Okay. And then final question for you, Ben. Do you invest in the public or private health care sectors?
Ben Reinberg: [00:30:35] We invest in both. Similar above, we'll have some tenants our portfolio that are public. We have nonprofit hospital systems, we have private entities as well. So we look for the best opportunities in the marketplace. And by doing that, we want to have a large breadth of tenants to choose from.
Ben Reinberg: [00:30:59] So I want to thank everyone for for attending today. We really appreciate it. As we discussed earlier, our investments, our funds sell out very quickly. Take action now. Take a picture of Carmen's information, and I encourage you to call Carmen now. You'll be happy you did. Thank you again. And we appreciate your time.
David Bodamer: [00:31:33] Okay. I think there are a few other questions that came in which we will make sure to share with Ben and Carmen as well. So they will get a full report of all that stuff that came in. I want to thank both both of you for the presentation and for the discussion and for answering some of those questions. And I would also like to thank Alliance for sponsoring today's forum. It also like to invite all of you to check out we have six more sessions over the next three days as part of this first quarter forum to register for any of those, simply click on the upcoming forums widget at the bottom of your console. In addition, we'll be doing these the goals that we'll be doing these forums quarterly. So we will be having information about calling for sessions and and information on how to register for the next forum, which at this point we'll be having at the end of June. In addition, you're going to receive a follow up email that will include a link to view a recording of today's presentation. So if you did find this useful, please share it with your colleagues. And once you leave the event, a short survey is going to pop up in your browser window. We would appreciate it if you could share your feedback on this as it helps us to provide you with the best content going forward. So, so on behalf of Wealth Management Real Estate, thank you for tuning in and have a productive remainder of the day.
Dr. Tony - PI Doctors Elite
Live Presentation, May 11, 2022
Special Dr. Tony Live Facebook Stream with Ben Reinberg, and Carmen Ventrucci - Alliance CGC
Dr. Tony: [00:00:00] One. All right. Hey, live we are at Doctor. 20 year administrator, founder and great information we're going to give you today, in live, on our PI Doctors Elite Community. You know, a lot of docs been asking about different things. Not only in their practices to help patients, but also in their personal finances and different strategies and things that they can really get ahead and be [00:00:23] very informed. [00:00:24] And today we have a great presentation today. And today is going to be a little bit of a strategy. We have Ben Reinberg and also Carmen Ventrucci. I think I said that right. And today we're going to introduce Carmen Ventrucci. And, you know, we titled this - Three Secrets to Curing Your Financial Injuries. And you both got - you all got emails and you also had this on an event calendar so it was coming up. And we had to have very interested parties that are interested in getting this information that's different than patient care and all of that. So right now, I'm just going to introduce Carmen. She's up in that top left corner there, with her information. You'll see Ben right below. We're going to go ahead and give Carmen the floor here. And, she's going to go over a few overviews of what this great presentation is going to bring you all. And welcome all of you. And this will be in a recording basis, like always. We'll get it out to everybody in the doctor's community after we get this process. So, thank you for joining us live. And Carmen, I'm going to go ahead and give me the stage and screen share.
Carmen Ventrucci: [00:01:37] Wonderful. Thank you, Dr. Tony. Thank you everybody for being here. We're really excited to be here with you today to tell you all about three secrets to cure your financial injuries. So, what we're going to talk about today are those secrets. Before we get into that, I just want to ask a quick question for everybody who is listening right now. I'm not going to make you click on any buttons. It's going to be a really easy way to respond. How many of you have been to a doctor, of any sort, in the past year as a patient? Just go ahead. Put up your hand. Okay. So, for the folks that I can see, I saw all the hands go up. So, we're just going to call that a 99.9% yes response rate of - you've been to the doctor in the past year. I don't know about you guys, but in my house, we're really healthy. We are very healthy. There's no chronic illness, no chronic problems. Yet between me, my husband, my dog and my children, we're at the doctor about once every two weeks. My husband took a couple of the kids to vision therapy yesterday only. So, even though we're healthy, we are still using all these medical services and visiting doctors quite frequently.
Carmen Ventrucci: [00:02:52] And really what it comes down to, why this is so key. And I'm going to share my screen - is this phrase right here. "The human body is never going out of style." And that is a quote, direct from another gentleman on this Zoom with me, Ben Reinberg, who is the Founder of Alliance, the Founder and CEO of Alliance. So, because we know, and you guys know, you're in the medic - you're doctors. You guys practice medicine. You know this too. Because we know the human body is never going out of style, that really influenced us to figure out a way - how we could invest our money in something that is never going out of style so that we can provide safe and secure returns for our investments, our family and our businesses. So, that is what we're going to talk about today. So, just a really, really brief little bit about me. My name is Carmen Ventrucci, As Dr. Tony said. I am the Director of Investor Relations at Alliance. I was hired at Alliance because I am an expert in business communications. I love my peloton bike, I love my RV and I am a wine enthusiast. My contact information is right there.
Carmen Ventrucci: [00:04:08] My phone number, my email, send me a text, give me a call. I would absolutely love to hear from each and every one of you. A little bit about the gentleman I'm going to introduce, Ben Reinberg. Ben is the CEO and Founder of Alliance. And, over his 27 year career, he's built over 500 million in assets. And, this is impressive, has provided investors with, on average, a 24% IRR. So, investors are getting a 24% return on their money. He's a thought leader, in the commercial real estate space, a fitness health and wine enthusiast. So, yes, our meetings, we do talk about wine. And his email is right there. So he would love it, if you sent him a note and said hello. So, what we're going to talk about today are: curing three financial injuries. So let's just jump right into it. Ben is going to give us a bunch of answers. I have some questions for him. Injury number one. The cure for financial injury - the first cure is: investing part of your portfolio in assets that are transparent, secure and stable. We accomplish that by investing in medical properties. So, Ben, will you walk us through, why are medical properties such a safe and secure investments?
Ben Reinberg: [00:05:35] Sure. Well, first of all, I want to welcome everyone. I really appreciate Carmen. Thank you for having me on and sharing our value and our knowledge with the folks on this, and all the doctors on it. Obviously, we've been in the medical space for a while, so, there's no one that appreciates doctors more than me, in our company. The reason - to answer your question, and it's a great question, I appreciate it. The reason why our investments are safe and secure, it's because of the assets we acquire. So, we acquire medical properties throughout the United States. And, why it's a safe and secure investment is, if you go back to the quote I said, "the human body is never going out of style". It's a true statement. Well, during the pandemic, which we all just went through, and we're coming out of, we saw that our tenants were thriving during the pandemic. They were paying rent. They were busy. And, they were able to survive and thrive throughout a situation like this. Our assets in the medical industry, the properties that we own with our tenants, are pandemic and recession proof. We've been through a few recessions throughout the commercial real estate industry, and we see our assets are able to sustain themselves and really outperform any asset class in our business. It's one of the reasons why we love what we do. Medical properties - our tenants invest a significant amount of money. They have deep roots embedded in every community that they're located. And between that - between the property management and how we manage our assets, it really becomes a safe and secure return and we're not affected by outside forces like other asset classes in our business. So I'm extremely proud of the portfolio we've built. I'm very grateful for all our investors. And you could see from our performance, these medical property investments, and our funds, have really outperformed the stock market and they've outperformed other asset classes. Because over a long period of time, I have not found any better secure investment for me personally as well as for our investors. And so, we love what we do, Carmen.
Carmen Ventrucci: [00:07:46] We do. Absolutely. And we also love treating our investors with white glove service. And part of the way we do that is, we really embed our core values in everything we do. So our core values at Alliance are transparency, integrity, consistency and expertise. And earlier, I mentioned that these investments, not only are they secure and they're stable, they're transparent. Can you tell us then how we do that? How do we provide transparency to our investors so they know exactly what they're getting?
Ben Reinberg: [00:08:23] Well, to me, it's one of our core values that's extremely important, is I am also in the same shoes as everyone on this call. I invest in our funds. I am shoulder to shoulder with my investors. I love what we do and I love our investments. And the reason why they're transparent is, one, you can go kick the bricks and mortar at every single property that we own, especially in our funds. And I think that's really important to see, actually see and touch the assets that you're investing is extremely important. The other thing of why it's transparent and that I'm very proud of is that we've developed technology through Investor Portal to allow our investors to have 24/7 access to any documents, any communications. So between monthly or quarterly narratives that we issue to our investors, to annual reports, to documentation. I felt it was extremely important to be able to benefit and utilize technology to make our investments and our processes extremely transparent because I want to be treated the same way we treat investors. Remember, I'm shoulder to shoulder with you. I invest in our funds just like you do. And so, I want to be able to sleep at night. I want to know that I have someone that's a good shepherd for my capital. I want to know someone with experience. I want to know how they are structuring their transactions. And with that being said, we allow and provide that transparency to our investors. And so, that's what I'm extremely proud of because everyone knows the tenants we invest in. Everyone can see the properties. And that allows a lot of comfort level for a lot of our investors, including me as an investor. So I love it. And, and the transparency for me allows me a strong comfort level to invest in our funds.
Carmen Ventrucci: [00:10:22] Wonderful. I know a lot of people invest in real estate for a lot of reasons. One of them are the tax benefits. Ben, can you tell us what kind of tax benefits do our investors enjoy when they invest with us in medical properties?
Ben Reinberg: [00:10:37] It's a great question. Again, it goes back to why I'm a huge fan of investing in our funds. And I've been able to find a lot of other investments that have similar tax benefits to our investments. What I love about our investments is, let's say I get, as an example, a dollar as a preferred return every quarter. And with the tax benefits, depending on my tax bracket, I'm in. It could end up that I'm only paying tax on $0.85 or $0.90 of every dollar that I earn. Well, that's tremendous. I'm getting more money back and paying taxes on less of that income. And that's what real estate does, especially what we do. And how that comes about is through depreciation, interest expense as well as property taxes that we spend on every investment. I want to make it clear. One thing we do is we've aligned ourselves with cost segregation specialists all over the country. So we take every aspect of every property whether it's electrical, plumbing - every aspect we can and depreciate it because we want to make sure that we can provide the best tax benefits. That's the beauty. The foundation of this country that we live in - the tax laws for commercial real estate and what we do are extremely favorable and they continue to this day. And so for me, I haven't found a better investment vehicle with tax benefits than what we do. And that's why I pour a lot of my own money into our funds, because I want to be able to benefit from these factors. And the fact is that I have to pay tax on less than I'm receiving, to me is a tremendous benefit. So, you take transparency - what we just discussed and the tax benefits, show me a better investment because I'd love to see it.
Carmen Ventrucci: [00:12:28] Okay. So for people who want to invest in real estate, there's a lot of ways you can do that. I know, I myself have been a real estate investor for almost 20 years. I've done residential single family and I've done multifamily as well and now medical properties. How does medical property compare to say, a multifamily? I mean, why is it different? Why is it better? How do you add value to medical properties?
Ben Reinberg: [00:12:52] Well, I think the difference is - I think from the pandemic we saw it in spades with different governments getting rid of eviction laws or temporary suspending them. The ability where tenants didn't have to pay their rent payments, in these multifamily buildings. It really hit a lot of my colleagues hard, all over the country. And, that's what I call these "external third party forces" that affect you. And, when you're dealing with the human body and you have doctors and physicians and hospital systems, that are your tenants that are running the properties and their businesses, out of your real estate, it's a huge difference. We're not as susceptible to outside forces. Our tenants are, generally speaking, pandemic and recession proof type tenants. Well, in multifamily, you're dealing with people's personal lives. It is a personal situation and you get involved in people's lives when you do a multifamily. So, that's a different animal. We deal with businesses and corporations that are well capitalized. Multifamily - you're dealing with personnel people in your buildings that are affected by high interest rates, unemployment, inflation, etc., etc.. In our in our investments, in our medical properties, we're not as susceptible to those type of third party forces that affect commercial real estate as well as other investments. And so for us, over a long period of time, when I invest money in our funds, that's what I've seen.
Ben Reinberg: [00:14:25] I love that stability compared to multifamily. Multifamily is low yields, and anyone that's invested in, knows it does. It's extremely competitive. There's a lot of sponsors out there doing it, which is great. But at the end of the day, when I look at our properties and our tenants that have the ability to pay rent and establish deep roots, again, it's a huge difference to multifamily. And, a lot of our tenants have significant investment in the property. In multifamily, your patrons, your renters are not investing a lot of money in your spaces. So, you have more turnover. The turnover costs are way more expensive in multifamily than medical. So, at the end of the day, I look at the playing field and I say, okay, well for the risk, what am I investing in and what am I getting? I think multifamily has a lot more risk than medical properties. And I can assure you, from all these doctors that are on this webinar and watching, they can agree as well. They know that people need their services and are proud to use their services. And so, we offer a tremendous value with these medical property investments that, through the test of time, whether anything going on in our world have sustained themselves in multifamily can't make that claim.
Carmen Ventrucci: [00:15:47] Wonderful. So remember, as Ben said, the human body is never going out of style and that is one of the reasons why we recommend having this transparent yet safe and secure investment as part of your portfolio. Medical properties are very desirable as investments for all the reasons we just spoke about and more. But Ben, you said something that actually transitions very well into secret number two, to cure your financial injuries. And that is, if you are a doctor or part of a doctor's group, you need to consider selling your building and having somebody else manage it who specializes in doing just that. So, there's all sorts of different ways you can practice in your building. Ben, why would somebody want to not own their building? Why would a physician group want to sell their building to someone else and rent it?
Ben Reinberg: [00:16:46] To me, Carmen, it's really simple - is, these doctors that we deal with, and these tenants, want to focus on what they do best, practice medicine. If they want to invest and own commercial real estate, they invest in our funds. They let experts do it. And, being in this business and, you know, internally, we're in it 24/7. We have an extensive property management department. It is a tremendous amount of work to manage properties and to make sure that you're preserving your assets. I think what a lot of doctors realize, and I can tell you firsthand, because we have a tremendous amount of doctors as investors and also our tenants, and we can get into that in a little bit - is, they don't want to have to deal with the headaches and the nuances. They're not resource rich like we are. Where, they have to go and replace a roof. Well, think about it. If you're a doctor or a physician group or anyone and you have to manage a property and all of a sudden you have to go bid out certain improvements that you need done. It takes time. So it's an opportunity cost. The other reason is, a lot of our tenants that have sold us properties in a sale leaseback or whether they were an investor and they sold their business to a hospital system, they still own the real estate, or maybe they're just two partners out of ten partners that own the real estate.
Ben Reinberg: [00:18:08] We do all different types of transactions. Existing assets, sale leaseback, etc. But at the end of the day, all our sellers don't want their cash tied up in commercial real estate. They'd rather deploy it in other things that are interesting to them in their businesses. So for example, it might be to bring in new equipment, replace equipment and use that cash. It could be to expand the property they're in. They need more space. It could be to build another building or they want to expand their buildings. It could be some of the doctors want to retire and just cash out and not have to deal with it. And at the end of the day, a lot of the common root cause of why they want to sell it, is they don't want to have to deal with what we deal with on day-to-day basis, Carmen. And that is dealing with the headaches of owning and managing real estate. And, the opportunity cost for your time is so valuable for these doctors and that's why they invest with us, because they look at our funds and they say, wait a minute. I could diversify a little amount of capital into 30 different properties through the best areas in the United States.
Ben Reinberg: [00:19:16] And I have a tremendous team of expertise at Alliance that I can invest my funds in and know that they're a good shepherd for my capital. And I don't have to deal with the day-to-day nuances. I mean, that's really what it's about, Carmen, at the end of the day. Is, where do you want to spend your time and energy? And I find, and I have a lot of friends of mine that are doctors and developed close relationships. And the theme is the same. It's opportunity cost and don't want to deal with the headaches and it's a great time to sell. So, you get the best of both worlds. I give you a lump sum amount of money, and I also resolve your problems of owning real estate. So I look at it that I'm out there to share our expertise and serve these folks, these physicians, these hospital systems and doctors to really address all their real estate needs and how we can benefit them. And so, at the end of day, it just makes a lot of sense for doctors to sell their property to us.
Carmen Ventrucci: [00:20:17] That does make a lot of sense, Ben. So thank you for sharing that. So, the doctors on this webinar right now, listening to this, are probably wondering - that sounds great. What do I do? What are you looking for? So, can you walk us through, what you look for when you want to acquire medical property? What's the process? What's it like?
Ben Reinberg: [00:20:38] Well, to start off. We acquire properties throughout the United States, and we've done business in a majority of the United States. We have a large focus - and you see in the dark blue on Carmen's slide. It's really basically, we focus our capital in the south, the southeast, the southwest, mountain west and parts of the West Coast. And the reason being is, we look for high population growth areas. Great medical real estate markets where the residential markets are growing and are successful. There's good health care policies in place in the cities and counties that we invest in. And, the reason why we've done this is historically, we've had tremendous amount of success in these areas and some of the states even have great tax benefits to where, there's no state income tax. So, with that being said, we look for medical and veterinary properties. Veterinarian kind of came around about three years ago, in our portfolio. We've done very well with our investors. We look at net lease properties. We look for rent growth, initial lease term. Carmen, we also look for 50,000 people in a five mile radius. We do that because we want density. And then also, like I said, we look for population growth and we look in these areas that you could see that I really outlined in blue, which have favorable tax municipalities too. So, when you sell a property to us, we make it really simple.
Ben Reinberg: [00:22:10] I am a big proponent and internally, my staff as well, is about simplicity. We'll give you an outline of what we need, depending on your transaction. It could be the company's financial statements, if it's a sale leaseback. We might ask for specifications of the building. If you currently own an asset and you have a lease in place, we'll ask for a copy of the lease and any amendments. And so, once we have our arms around these details that we ask, in our list, we can immediately provide you a value of your property. And, I can assure everyone on this call, and I can tell you from our long term, almost 20 years of doing this, we never put an asset under contract that we don't close. We do enough homework upfront and due diligence to make sure we can perform. And that's why we've been in business for so long and that's why we see an abundance of transactions that we offer our investors because of, people know how we do business. Integrity is a huge core value within my company and we take it very serious. So, our word is our bond. And so what we'll do is, we'll outline what we need in the transaction. We make it very simplistic. And what we do is, we lead in every transaction and then we bring in our resources. We're very resource rich. So when someone gets involved with us in a transaction, we make it an enjoyable experience.
Ben Reinberg: [00:23:35] And what I'd like to share with everyone on the phone is, you can listen to me until the cows come home and how great we are. And, I can preach about my experience and everything else. But I encourage you to go on our website. Go on our website, look at our testimonials, read them, listen to the videos of some of our tenants, the brokers that do business with us. They're the ones that speak volumes. That's what I'm proud of. How myself and our entire staff at Alliance conduct themselves within this industry and go on our website and really understand how we do business, what the process looks like, how people felt about us in our transactions. And I think at that day, you'll be very impressed and you'll say, how do I get involved with Alliance? How do I invest with them? Do I want to sell a property? We are commercial real estate experts with a focus on medical properties. So, we are directly down the fairway of what you do. And, if you like to invest in medical properties or you want to sell a property, just call us. We're happy to help you. My mission in life is to serve. I want to help you and serve and add value and that's really one of our core values, within Alliance is, we're here to help you.
Carmen Ventrucci: [00:24:54] Wonderful. There's a couple of things that you just said I really liked. Number one, that we treat our tenants and everybody in the buying process with that same white glove service, we provide our investors. And two, our due diligence process is thorough and it's robust. And that's really one of the big ways we help protect our downside for us and our investors. So, thank you for doing that because it really shows that you care about the investors. You care about doing the right thing for the investors. And, as Ben mentioned, go check out our website. You can probably see it to my right shoulder - over here www.alliancecgc.com. Take a picture of it. Go ahead. You're going to want to give me a call, send me a text, so go ahead and take a picture of it. So Ben, that kind of wraps up secret number two, to cure financial injuries. Let's move on to secret number three to help cure your financial industries. And that is, working with a sponsor who is a great problem solver. Now Ben, I have a slide to show you. I didn't tell you I was going to show this slide. I know you've seen this slide before. And I know you're very proud of this slide, so you're going to be happy to see it. Our leadership team, here at Alliance. So, I know you're proud of this because these folks here, really keep the machine, that is Alliance running. Each of them behaves in accordance with our core values. And combined, we have over 200 plus years of commercial real estate experience that is to benefit you, as our tenants, and to benefit you as our investors.
Ben Reinberg: [00:26:35] Yeah. I couldn't just say it better. I love this slide because it's one of the reasons why I love investing in our funds is, we are outstanding at solving problems and dealing with challenges. And Carmen, you know what's interesting about this topic is, a lot of people ask me like, Ben, where do you put your capital? Where do you invest your capital? Because, I have a lot of opportunities, whether it's in commercial real estate funds like ours, hedge funds, crypto, you name it. I see all different types of investments. At the end of the day, the first question I ask is, how do you solve problems? Because I'm going to bet on the company that I'm investing in, or the funds, on how they solve problems. See, anyone can pay you a preferred return. But I want to know, when the chips are down, how they're going to solve challenges and problems. And when I look at Alliance and what we do, we have so much experience. We've been through so many transactions - over two and a half decades that I am so proud of everyone that works at Alliance. We know how to solve challenges. We do it on a frequent basis. And, at the end of the day, with our experience, well guess what that does? It provides value to our investors, how we treat them, how we add value to our properties, through the experience we have.
Speaker1: [00:27:57] And, at the end of the day, I mean, it goes back to - why invest a lot of money in our funds, me personally, and and why I'm a huge proponent of what we do and love what we do. And, I challenge anyone because I see a lot of investments to find - where do you want to put your capital? And, where I like to put my capital is, with people that have experience, that can solve problems, that have integrity and that really give white glove service to their investors. We check all those boxes. And, everyone that works at Alliance really understands how to deal with challenges. And, that really has propelled us to a leader in what we do. And I'm extremely proud and grateful for the people that work at Alliance because they really serve our investors and they offer an extreme benefit to investing in our funds. And so, at the end of the day, Carmen, that to me is what it's about. It's about having this expertise, within our company, that aligns with our core values and provides a great service for our investors. And that goes for everyone in the commercial real estate industry is, we're here to provide expertise to not only our investors, but also the people we work with so we can make our investments safe, secure and profitable. Because, at the end of the day, that's what it's about.
Ben Reinberg: [00:29:28] And people ask, well, how did you create this incredible track record and these tremendous returns from medical? Medical doesn't generate those IRRs. It all stems with what we do internally and our expertise and being able to solve challenges. And, that's why I invest in our funds. That's why I'm a huge proponent of it, because I want to feel comfortable. I want to know that I can turn my back and I have a group of people and a company that are going to solve challenges for me and they're going to make me money and provide the tax benefits that are beneficial to my investments. And so, at the end of the day, that to me is a tremendous benefit that we offer. And why I encourage everyone, that, if you like, safe, secure investments and the folks on this webinar who understand medicine want to invest in something that you know - and we touch on - the nice thing, Carmen is, we touch on all the different niches in the medical industry and the veterinary industry. So, it's why doctors love investing in our funds and I love it too because I see the deals that we acquire and manage and the diversification and the success of our tenants to me is really something I'm extremely proud of and grateful that I have the opportunity to invest my personal capital into our funds.
Carmen Ventrucci: [00:30:53] Wonderful. So I want to share your track record, our track record a little Ben. Ben. So, on the screen now, you see a list of properties. These are medical properties that Alliance has sold since the year 2013. There's a few things I want to draw your attention to. First and foremost, in the bottom right corner, this 24% IRR. On average, our investors get a 24% return on their investment, which is just astounding. This is one of the reasons why I love working with Alliance because we really do take care of our investors. We started this conversation, this part of the conversation, saying that the third cure for your financial injuries is having the ability to work with people who can solve problems. I know every one of these properties on this list has a story behind it, has a problem you had to solve, has a problem we had to work together to solve. Can you tell me one of the stories behind one of these properties?
Ben Reinberg: [00:31:58] Yeah. I mean, they're all outstanding investments that we had. Palmetto Imaging in Columbia, South Carolina stands out to me. That's in the middle, if everyone can see it. That particular investment, I go back. We acquired an imaging center in Columbia, South Carolina. Columbia, South Carolina is a wonderful market. If there's anyone from South Carolina, I'm a huge fan of that market. And we acquired an imaging center a long time ago. And the challenge with that property was, it was in a central business district. Columbia, South Carolina - University of South Carolina built a brand new law school down the street. The university was kind of migrating towards our property with new buildings, etc.. And, we had a challenge with our parking. We had a parking garage across the street. We were in a central business district where the patients of our tenant, would have to park in the street. They might have to walk a few blocks or across a busy street. Some of them might have been in wheelchairs to get into the imaging center. And I said, we have to find a way to solve this. We like the property. We're going to acquire it. We're going to solve this issue. Well, next to us, we had adjacent walls with a developer who bought the building next to us and was going to convert it into a student housing property. And, part of the challenge that they had is we were looking at potentially - we're going to go vertical on our building to add more square footage and bring in more tenants and add value for our investors. The developer came to us and said, you know, we don't want you blocking the views from some of the windows if you go vertical.
Ben Reinberg: [00:33:43] And so, what we decided is, we said, well okay, we want your parking lot behind the property. What was the benefit? A lot of our tenants like the fact that their patients can walk right into the door on a a single level that's well paved. And whether they're handicapped or maybe they have a challenge going on because they're getting their imaging services, we want to make sure that it was close proximity and easily accessible to the front door. So what we did is, I looked at the situation with my staff. We took a step back and said, what if we sell the air rights above our building? They don't want us blocking. We want to solve the challenge at the property to make our tenant happy. We ended up exchanging the air rights over the building for the parking lot. Therefore, we established an additional 30 parking spots right next to the front door. Our tenant, some of the folks on this might know our tenant, which is Novant health care out of the southeast. And, we signed Novant to a long term lease and we sold it and it was extremely profitable. That was a way we got creative. A lot of these deals you see on the screen, there was always some sort of challenge we had to overcome, whether it's improvements to - I mean, look at North Side Hospital, that's the last example that we can go over. Is that, Northside Hospital was a sub tenant of a building we owned in Roswell, Georgia, and they weren't happy with their tenant and they had a joint venture relationship with our tenant and they really wanted to stay in the building.
Ben Reinberg: [00:35:19] They wanted to put about $600,000-$700,000 in improvements in the building. And, they came to us and said, how do we buy the building from you? And we said, well, we have an existing lease with the tenant. It's going to be a challenge. They said, well, we're partners with them. We'll resolve that issue. And I said, okay. I said, however, if you don't buy the building from us, I would like a long term lease with you just to protect us. So what we ended up doing is, we went under contract to sell the building to Northside Hospital, and simultaneously we create a 15 year absolute net lease with them because we looked at the downside, we said, God forbid Northside Hospital doesn't buy the property. We have a long term lease that's extremely marketable on the market. Northside Hospital is just a tremendous credit hospital system in the Atlanta area. So it was a win-win. They ended up buying the property, which was great. They provide certainty and made a great return. And we knew the downside is, like I said, they didn't buy the property. We would have put it on the market and we probably would have achieved a higher price than what we sold to Northside. So, those are just an example and there's many examples. And again, it goes back to that expertise that we have and that deep rooted knowledge of our business, especially with our leadership team, that amount of experience we have that allow us to solve these challenges in all of these deals we do.
Carmen Ventrucci: [00:36:43] Wonderful. Thank you for those stories, Ben. Thank you for those examples. I love that Palmetto Imaging Center story. Who would have thought exchanging parking lot rights for air rights above a building? I mean, that just shows how creative we can get to have win-win-win situations for everybody. So, let's just recap, very quickly, the three secrets to curing your financial injuries. Secret number one: invest in a transparent, secure and safe asset class. Medical properties. You guys know this. The human body is never going out of style. There will always be a need for your medical services. Why not invest in something there's always going to be a need for. Number two. Consider selling your building if you or your group own your building. Give us a call. We have here. Let me go back to this map, real quick. Let me go back. Let me show this.
Carmen Ventrucci: [00:37:38] We have this map here. Even if you practice in an area that's in gray, not in our blue areas here, give us a call. If you want to sell your building, we can help you. We can put you in touch with our network of folks across the country who can help you get that done. So, call me. My number's over here. We'll put you in touch with the right people or we'll consider it, buying it ourselves. Cure number three: work with people, work with companies that are very good at solving problems because guess what? We know the human body is never going to style. There is a lot of other uncertainty out there. We don't have to tell you guys this. You know this. You saw what the stock market did last week. The one thing I am certain, the one thing I know is that if you call me, we can change the trajectory of your investments going forward. So, please give us a call. We would love to start building relationships with each and every one of you, and we're certain that we can work together to find more win-win-win solutions for us all. Ben, do you have anything else to add?
Ben Reinberg: [00:38:51] Yeah, I do want to let everyone know that if you're looking for safe and secure investments that are profitable, call Carmen. You'll be happy you did. I can assure you, out of all the investors that have invested with us throughout the years, that once they start investing with us, they keep coming. And, they've been extremely happy. And I'm extremely proud of what we've been able to create. And, we're here to serve you. We're here to help you. I want to provide you an incredible investment vehicle that can really be a nice alternative asset for your portfolio. All of you are practicing medicine, that are in this webinar. You understand who our our tenant base is, you understand the investment, you understand how committed they are to the properties. Well, that's what we do. That's our specialty. And I can tell you, what's very interesting about being in this business for a long period of time, a lot of our tenants, and folks that have sold us their properties end up becoming investors because they understand what we do. They love the transparency. They love the expertise and the leadership and they realize that I can diversify my capital over a large portfolio of assets and get tax benefits too. So again, I encourage you to come in, invest with us and to call Carmen. Go shoulder to shoulder with me. I practice what I preach. I invest in what we do. I invest in the people that manage all the processes and the funds that we offer our investors. And I can assure you, you will get the best treatment and white glove service from our Investor Relations Department.
Ben Reinberg: [00:40:42] So, you see Carmen's name on the screen, you see her phone number, call her. Have a conversation with her, and learn about what it means to invest in medical office properties in a fund like this. Because, I could assure you, and you know this as well as I do, our assets are pandemic and recession proof and that's why we do this. We want to provide you great returns and profitable returns at the end of the day, so we can protect your capital, just like we protect my capital as well. So, give her a call. Love to work with you. We'd love to serve you and see how we can help you. If you're interested in selling your property or learning about that, call Carmen. We will direct you in the right direction. We acquire a lot of properties around the country, and if we don't acquire a property, I could assure you, we have the resources and knowledge of who would be the best fit for you. It's our job to serve you and to help you. And I'll leave you with that. So, we welcome you to our family, the Alliance family. We'd love to have you invest with us and and do business with us and really provide value to you, in any way we can. So thank you, Carmen. I really appreciate you bringing me on and sharing what we do and sharing the knowledge and the value that we can provide these folks on this webinar.
Carmen Ventrucci: [00:42:07] Thank you, Ben. This is information that people need to know. So, I'm really glad you were able to be here today and share this knowledge with us. And I want to say a huge thank you to Dr. Tony for having us on. This was a great opportunity. This is a great forum. And with gratitude, thank you for everybody who joined us today. Thank you for what you do - serving your patient population. We need more great doctors, just like each and every one of you. So thank you and please give me a call, send me a text, send me an email. I would love to get to know you better and start a relationship.
Dr. Tony: [00:42:42] All right. Great presentation, great motivation and great information for sure for all our doctors live on this. And, for a lot of you who jumped on, maybe later on the PI Doctors Elite Community. We were talking with Carmen Ventrucci and Ben Reinberg and no doubt this has been recorded so you get all the information. The Three Cures for Financial Injuries and that was a good title we gave it. And she outlined those three. Secure real estate, transparent investments, selling. Possibly, you're building a lot of integrated doctors and practices out there that want to transfer. Just become doctors and transfer that over to Ben and Alliance and Carmen to take over that, the management and all that. They'll tell you all about that. That could be a great opportunity that, you're so used to patient health care information we're giving you, this is a great, great opportunity. Right now we have many, many doctors already interested in learning more about it. And then you got great sponsors. You saw many, many of the great professionals that Ben and Carmen have on their team to help you and support you in what you need to do for your success. And so we're going to leave you with that information. And, great to have you today, Ben. Thank you so much for your time, Carmen, and your team for allowing us to have this presented on our PI Doctors Elite Community.
Dr. Tony: [00:44:12] One maybe, a question that I want to ask, leave for the doctors is, you know, a lot of them were thinking, well, yeah, I want this opportunity, but is there a minimum value of the building or a minimum value that you accept maybe that they don't know about that you might want to expand on?
Ben Reinberg: [00:44:30] Carmen, I could take that question.
Carmen Ventrucci: [00:44:35] Okay.
Ben Reinberg: [00:44:35] We look for assets of valuation, usually 3 million. I would say, from experience, our purchase price or acquisition price, I see average, somewhere between the 5 and 10 million range in a lot of these assets. That's what a lot of the medical properties around the country average. Now, that doesn't mean there's a $30, $40, $50 million property which we can acquire. But generally speaking, you're going to see, it's going to be somewhere between five and $10 million. We buy properties over $3 million, Tony. If it's a little less than $3 million, on case by case, it doesn't mean we won't acquire it. So - but generally speaking, we look between that $3 and $25 million on a sale price.
Dr. Tony: [00:45:17] Good. And that's pretty much a lot of them would probably be asking, because they might be in the $800 -$900,000 range and they're saying, you know, talk to them anyway because maybe you might have an asset or a reference for them to work with them that do something like that for your team, so.
Ben Reinberg: [00:45:35] Yeah. And let me just add to that is, we're here to help and serve. So, if it doesn't meet our criteria, we're very upfront. We'll let them know and we will find them the right resource to add value. And, that's what we do. It's a small world. And by serving the people on this webinar and what we do, it comes back to us in spades. Whether those doctors might end up being an investor, they might refer us to someone else. And we know this is a marathon business and we plan on doing this for many decades going forward. So, my point to everyone on this webinar, if you have a question, call us, ask. It doesn't hurt you. It doesn't - we don't charge you for calling us. We're here to help you. And that's the foundation of my company that I'm extremely proud of. So, like Dr. Tony says, if you have a question, feel free to call us.
Dr. Tony: [00:46:30] Alright, great. In the information there you'll see. As our funnel to contacts Carmen up there, Carmen Ventrucci. If you want to call that number 847-607-1942. Is that is that textable number, Carmen?
Carmen Ventrucci: [00:46:43] That is a textable number. In fact, somebody already texted me, while we were on the webinar. So yes, it's a textable number.
Ben Reinberg: [00:46:50] Carmen, I think your phone's going to be lit up like a Christmas tree, because of what we do, so. So Carmen's is going to be working around the clock for you folks. So, just giver her.
Dr. Tony: [00:47:01] And yeah, as courtesy, you know, doctors, we courtesy text techs our professionals but they are busy professionals and they can't be getting calls all day long. Do it in a nice, reasonable fashion. I don't know. Is that a central standard number? What time zone is that?
Carmen Ventrucci: [00:47:18] Yes, I am in Central Time.
Dr. Tony: [00:47:20] Okay. And better yet, there's her email and the website that you can visit. And again, we thank both of you and your whole team for being on our program today, live. And, we do have it in a recording. We will definitely get that out. We will have all the information posted on there. I was going to say, well you can go to the Yellow Pages. Yeah, Ben will remember that. No, not anymore. As Carmen said, take a screenshot. That's the best technology these days and you have it right there. So, Ben will remember those yellow page ads. I remember green ledger paper and stamps and checks. And, that's another benefit about doing business now in this world is, with our investor portal, we do direct deposits with our investors. It's really neat to see how we've been able to use technology to benefit our investors and the people we do business with. So yeah, I do remember those days and I'm glad they're over.
Dr. Tony: [00:48:20] We were all - yeah, we all fought for that AAA to be first on the page for about $4,000 a month, back in the 80's and the 90's. All right, we're going to let them doctors get back to their afternoon sessions. We thank you so much for your time, expertise and education to bring this to all our doctors live. And again, doctors, we're going to have this on a recording. With all that information, you can contact them for all your questions and anything you want to move forward with. All right. Do you have any more to add? One last minute, if not, we'll go ahead and get them back to their health front lines.
Ben Reinberg: [00:48:58] Well, I just wanted to say thank you, Dr. Tony, for setting this up. And I'm very grateful that we were able to share our knowledge with your community. And we look forward to continued success with your community. And, we know that we are here to help them. So, feel free to call Carmen once again. And, for any question, there's no dumb question. The dumb question is when you don't ask one. So, feel free to pick up the phone or email her. And, I could assure you she'll have the answers or obtain the answers that you need to benefit your situation. So thanks again. I appreciate it. Carmen appreciates on behalf of everyone in Alliance. Thank you so much for the opportunity to share our knowledge with your community.
Dr. Tony: [00:49:45] All right. Thank your whole team. And as professionals, we appreciate all the things you do out there in the health care fields for doctors and just for their advice and success. And one big - just a little plug. If you run on LinkedIn a little bit, you'll see Ben. He's got some great information. The last few couple of months, I think. He's got some great expertise out there for credibility, if you want to jump on LinkedIn.
Dr. Tony: [00:50:11] So, we might add that to the post, too.
Ben Reinberg: [00:50:14] Yeah.
Dr. Tony: [00:50:14] All right. Yeah.
Ben Reinberg: [00:50:15] Well, just real quick. Have everyone go to our website, which is Alliancecgc.com. I write a lot of articles on a monthly basis that we post about medical office and the industry. Feel free to peruse our website. You can follow me on LinkedIn. You can follow me on any social media platform. We do a lot. We provide a lot of content to add value to our followers and people that like what we do and even our investors. So, feel free to go online and go to our website and see how we can help you.
Dr. Tony: [00:50:50] All right, great then. Like I said, we'll have all that posted. They can go to that reference and get that information. All right. We're back to Tony, your administrator and founder. We will definitely check back with them in the future, probably with another presentation as we go along. I know we will probably keep them busy for a while. They will want to be on a presentation. We appreciate again, their time. Okay with that, this session and live session is going to be offline and have a great rest of the week and thanks always me for being on the front lines, even with the pandemic being less but it's still out there. We appreciate all our healthcare doctors. All right.
Insurance In Net-Lease Real Estate
Sept 28th, 2017
Our September Webinar focused on insurance in net-lease real estate. We had Tina Tower from Patriot Insurance share her views on the net-lease space and how she sees real estate insurance changing into the future.
Financing Net-Lease Acquisitions
June 29th, 2017
Our June Webinar focused on financing net-lease real estate. We have Jennifer Bridwell, a top lender at BrandBank, join us to share her views on the net-lease space and how she sees real estate financing evolving.
Why Investors Underrate Net Lease
March 30th, 2017
Our March Webinar focused on real estate investment opportunities in net-lease real estate. We were fortunate to have Isaiah Harf, a top broker at Stan Johnson Company, join us to share his views on the net-lease space and what investment opportunities he sees in the future.