11-Property Medical Office Portfolio
HREA | Healthcare Real Estate Advisors has announced the sale of an 11-property medical office portfolio located in eight states for a total value of approximately $130 million.
The 11-property portfolio consists of approximately 424,000 square-feet and is 97.5% leased and occupied by a mix of leading health systems and dominant physician networks, including Southcoast Health, Duly Health and Care, UPMC, BJC HealthCare, Intermountain Healthcare, Riverside Health System, SSM Health, and Saint Louis University. Approximately 50% of the occupancy is represented by tenants that have an investment-grade credit rating.
The Portfolio is comprised of eleven (11) outpatient medical buildings and surgery centers across eight states with locations in top metropolitan areas and high-growth areas, including Arizona, Utah, Texas, Missouri, Illinois, Pennsylvania, Virginia, and Massachusetts. The healthcare providers within the portfolio represent a variety of practice areas and specialties, including orthopedics, spine, cardiology, oncology, OB/GYN, ophthalmology, ENT, primary care, and pediatrics, among others.
“This was a unique opportunity to sell an exceptional institutionally owned medical office portfolio that is represented by best-in-class healthcare providers," said Christopher Stai, Managing Director with HREA. Adding, “the portfolio offered investors a large geographic footprint in growth-oriented markets, as well as the opportunity to pursue significant regional scale with some of the nation’s top healthcare providers”.
Representative Transactions
Seasoned Team
