Sale-Leasebacks Are Back on the Table in Healthcare Real Estate

After cooling off for a bit, sale-leasebacks are making a comeback—especially in healthcare.

Operators sitting on real estate are starting to feel the squeeze. Expansion plans, staffing costs, tech investment—it’s all adding up. And one of the fastest ways to unlock capital without giving up operational control?

Sell the building. Stay as the tenant.

In behavioral health, senior living, and even outpatient care, I’m seeing more providers ask:

→ “Do we really need to own this?”

→ “What could we do with that cash if we redeployed it into the business?”

At the same time, investors are looking for stable, long-term tenants. And what’s more stable than a licensed, operating healthcare facility with high relocation costs and a specialized buildout?

Here’s why sale-leasebacks are working again in 2025:

• Lenders are cautious, so equity from real estate helps growth

• Operators need flexibility, but don’t want to move

• Investors want yield without development risk

The key is in structuring it right—lease term, renewal options, rent escalations, and clarity around who’s responsible for future capex.

From a valuation perspective, these deals aren’t just about real estate—they’re about understanding the value of the operation inside the building, and structuring a lease that supports long-term viability.

📅 Book a call if you’re considering a sale-leaseback or need a valuation that works for both sides of the deal.

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