IRA Capital Buys Medical Office Building in Orange County for $38.4M

SANTA ANA, CALIF. — Irvine, Calif.-based IRA Capital has acquired a medical office property located at 2212 E. Fourth St. in Santa Ana. St. Joseph Hospital of Orange and affiliated entities sold the asset for $38.4 million.

St. Joseph Hospital of Orange is the anchor tenant of the 56,809-square-foot property. The three-story building recently underwent an $8.5 million specialized medical improvement program and features excess land that can accommodate an additional medical office building.

Gary Stache, Anthony DeLorenzo, Doug Mack, Bryan Johnson and Chris Martin of CBRE represented the seller, while the buyer was self-represented in the transaction.