MOB Portfolios Change Hands for $90m
Three different buyers has acquired medical properties. CBRE has arranged the sale of 23 medical properties totaling more than 300,000 square feet. The assets sold in three separate transactions, for a gross total of nearly $90 million.
Joining Asher on the deals were CBRE U.S. Healthcare Capital Markets’ Chris Bodnar, Sabrina Solomiany, Shane Seitz and Ryan Lindsley. The properties are spread throughout the states of Illinois, Florida, Alabama and Georgia, 13 of which are situated in the Greater Chicago area.
Lee Asher, CBRE’s vice chairman, said, “As we begin the second quarter of 2019, there continues to be a dearth of opportunities to satisfy the overwhelming demand for this product type. Each of these assets encompassed much of the criteria that health-care investors seek in today’s competitive investment market. Furthermore, due to the imbalance of supply and demand in the market, core and core-plus health-care buyers have become distinctly more aggressive in their underwriting for high-quality, well-located assets.”
The 197,385 square foot Greenleaf Center Portfolio in the Chicago Metropolitan Area. The asset is currently 93 percent leased to an extensive range of tenants. Of those, 44 percent are in the investment grade-credit and health system sectors.
The Dermatology Solutions Group Portfolio is situated in multiple markets in Florida and Alabama and is home to eight dermatology facilities totaling 51,505 square feet.
Source: CP Executive
Fulya Altunyay/[email protected]