REBusinessOnline

Welltower Agrees to Acquire 55 Medical Buildings from CNL Healthcare Properties for $1.25B

TOLEDO, OHIO AND ORLANDO, FLA. — One of the giants of the healthcare REIT sector, Welltower Inc. (NYSE: WELL), has agreed to acquire 55 medical office and outpatient facilities from CNL Healthcare Properties for $1.25 billion. The megadeal is expected to close in the first half of this year. The Class A portfolio, which spans 16 states, is 94 percent occupied. Additionally, 92 percent of the facilities are affiliated with leading healthcare systems. The newly acquired portfolio is expected …

Omega Healthcare Investors Agrees to Acquire MedEquities Realty Trust for $600M

HUNT VALLEY, MD. AND NASHVILLE, TENN. — Real estate investment trust Omega Healthcare Advisors (NYSE: OHI) has agreed to acquire MedEquities Realty Trust  (NYSE: MRT) in a cash and stock transaction valued at $600 million. As part of the transaction, Omega will acquire the fee simple interest in 34 facilities operated by 11 operators in seven states. Omega will also acquire approximately $34 million in mortgage loans. Under the terms of the transaction, MRT shareholders will receive …

Newmark Knight Frank Directs $39.2M Acquisition of Medical Office Property in Burlingame, California

BURLINGAME, CALIF. — Newmark Knight Frank (NKF) has arranged the purchase of a medical office property adjacent to Mills-Peninsula Medical Center in Burlingame. Lincoln Property Co. acquired the asset for $39.2 million. Located at 1720 El Camino Real, the property features 104,000 square feet of medical office space spread across three interconnected buildings. Situated on 3.7 acres, the property also includes a five-level parking structure. At the time of sale, the asset was 88 percent …

Northstar Sells 113,568 SF Commercial Property in Aurora, Colorado

AURORA, COLO. — Northstar Commercial Partners has completed the sale of 860 Potomac St., a commercial building in Aurora. An undisclosed buyer acquired the property for $34.7 million. Situated on 5.2 acres, the property features 113,568 square feet of commercial space. Children’s Hospital of Colorado currently leasing the property on a long-term basis, with lease commencement on June 1, 2019. Construction and build-out of the tenant’s space is occurring now. Due to its proximity to the …

HFF Negotiates $12.3M Sale of Medical Center in Suburban Philadelphia

EAST NORRITON, PA. — HFF has negotiated the $12.3 million sale of Norriton Medical Center, a 74,212-square-foot medical center in the Philadelphia suburb of East Norriton. Located at 160-190 W. Germantown Pike, the four-building complex is currently 92 percent leased and is anchored by Einstein Orthopedics and Moss Rehab. Ben Appel, Jim Cadranell, Doug Rodio and Brett Segal of HFF represented the seller, an indirect wholly owned subsidiary of Franklin Realty Development Corp., in the …

MedCore Partners to Develop 65,000 SF Medical Office Asset in Dallas

DALLAS — MedCore Partners, a Dallas-based developer specializing in healthcare and seniors housing properties, will develop a 65,000-square-foot medical office building in Dallas. The Class A property will be located on the Texas Health Harris Methodist Hospital Alliance campus and will house an ambulatory spine surgery center operated by Spine Team Texas. The building is expected to be ready for occupancy during the first quarter of

Marcus & Millichap Negotiates $3.7M Sale of Property Occupied by DaVita Dialysis in Northern Illinois

SOUTH HOLLAND, ILL. — Marcus & Millichap has negotiated the $3.7 million sale of a 9,703-square-foot property occupied by DaVita Dialysis in South Holland, about 20 miles south of Chicago. The facility, located at 16110 LaSalle St., opened in 2016. DaVita operates under a 15-year, double net lease. Valerie Cook, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the undisclosed seller. An out-of-state buyer completing a 1031 tax-deferred exchange purchased the

Welltower Acquires Two Medical Office Buildings Near Los Angeles for $29.9M

WESTLAKE VILLAGE, CALIF. — Welltower has purchased two medical office buildings located in Westlake Village, approximately 40 miles from Los Angeles. Nadler Cypress Holdings2 LLC and La Venta LLC sold the assets for $29.9 million in an off-market transaction. Located at 1220 and 1250 La Venta Drive, the buildings offer a total of 50,000 square feet of medical office space. UCLA Health and Providence St. Joseph Health are anchor tenants at the fully occupied properties. Evan Kovac, …

Money360 Provides $4.2M Bridge Loan for Medical Office Building in Massachusetts

EAST LONGMEADOW, MASS. — Money360 has provided a $4.2 million bridge loan for Longmeadow Medical Center, a 22,000-square-foot medical office building. The property is located at 294 North Main St. in East Longmeadow, approximately five miles southeast of Springfield. Terms of the recourse loan include a 24-month term and an 8 percent interest rate. The borrower was

Adolfson & Peterson to Build $32M Sports Medicine Facility in Waco

WACO, TEXAS — Adolfson & Peterson Construction will build a $32 million, 106,000-square-foot sports medicine facility in Waco. Designed by HKS Architects, the property will be situated on the Baylor Scott & White Hillcrest campus, adjacent to the interchange of Interstate 35 and State Highway 6, about 6.5 miles from Baylor University. Services will include an orthopedic and sports medicine clinic, outpatient surgery center and a diagnostic imaging center. Construction began in …

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