Montecito Medical Real Estate, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a large, state-of-the-art medical complex tenanted by the leading health system in the Milwaukee marketplace. The facility, Aurora Health Center – 84 South, is a five-story surgical center and medical office building located in Greenfield, Wisconsin, a Milwaukee suburb. The 130,000 square-foot building was constructed in 2019 and is 100% leased to Advocate Aurora Health.
Anchor Health Properties has acquired three medical office buildings totaling 100,000 square feet in Charlotte, N.C., for roughly $50 million. Teaming up with existing institutional equity partners, the company purchased the fully leased, Class A assets in off-market deals. Synovus Bank provided financing for two of the acquisitions. Novant Health anchors all three facilities.
Turnkey Capital Inc. (“TKCI” or the “Company”) announced today that it has executed a Share Exchange Agreement (the “Agreement”) with Egg Health Hub, Inc.,(“EGG”) a subsidiary of Healthspan Medical System, Inc. dba Collarmerle Holdings, Inc. The Company acquired all the outstanding shares of EGG, making it a wholly owned subsidiary of TKCI. EGG is a brand new model for healthcare and wellness that brings together top physicians and wellness professionals into co-practicing communities with shared access to a full-stack technology platform – scheduling, billing, client acquisition, and telemedicine – and flexible access to innovative contemporary office space designed to optimize both the physician and client experience.
Feldman Bergin Properties acquired the Richmond (Va.) Business and Medical Center campus for $12 million, the Richmond Times-Dispatch reported Nov. 2. The campus is 105,741 square feet. The campus’ tenants include Dominion Eye Associates and its associated surgery center, as well as Dignitas Health and Insight Physicians.
Birmingham’s The Sanders Trust has announced a $240 million sale of an 11-property portfolio of medical real estate, spanning eight states. The Birmingham development and acquisition company, which specializes in healthcare facilities, sold the portfolio with joint venture partner, Harrison Street, to Lincoln Advisors, an affiliate of Dallas-based Lincoln Property Company. It purchased the assets on behalf of a public pension fund client.
Harbor Associates LLC and The Bascom Group LLC have acquired the Stewart Plaza medical office campus in Upland through a joint venture for $10.3 million. The companies purchased the 94,488-square-foot campus, at 440 and 450 N. Mountain Ave., from a local family that has owned and operated the property since it was developed in 1987. It includes includes two three-story Spanish-style buildings on a five-acre lot.
The coronavirus pandemic has been a boon for industrial real estate as increased online shopping drives up demand for logistics space, but the medical office sector has also fared well in 2020, and experts expect continued strength in that area during and after the pandemic. While banks are hesitant to lend on properties in the retail and office sectors, financing remains available for medical office properties, experts say. And investors also continue to eye such properties, thinking that demand for services there will pick up once a vaccine is found and becomes widely available. Here, Law360 looks at three reasons medical office properties remain attractive amid the pandemic.
Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, is pleased to announce the acquisition of a Class A medical office building and ambulatory surgery center (“the Property”) in Columbia, South Carolina. The 31,697-square-foot building was built in 2007 on 2.96 acres and is 100% leased to Columbia Nephrology, Fresenius Medical Care, and Fresenius Vascular Care.
Feldman Bergin Properties acquired a five-building medical campus in Richmond, Va., for $12 million, Richmond BizSense reports. The buildings sit in a 9.7-acre medical office park and are 106,000 square feet. The campus is 92 percent occupied. Tenants include Dominion Eye Associates, Insight Physicians and Cataract & Refractive Surgery Center.
Anchor Health Properties and an unnamed institutional equity partner acquired the Makena Medical Buildings in Temecula from Makena Medical Buildings Temecula, LLC, a local developer. The Class A asset comprises two, fully-leased medical office buildings totaling 42,857 square feet. The 100%-occupied buildings were constructed in 2015 and feature a variety of medical specialties including urgent care, cardiology, gastroenterology, family medicine and pediatric care.
What We Do
Who We Are
How We Work
Who We Help
Get In Touch
Connect With Us
Subscribe to Our Daily Note
We publish a Daily Note that aggregates M&A activity, notable developments, regulatory changes, and conferences we deem to be of interest to our partners. It is a quick afternoon read and an easy way to keep your finger on the pulse of the healthcare space. Please fill in your name and email address below if you wish to subscribe.