Echo Real Estate Capital, Inc. announced it has acquired a 33,000-square-foot medical office building (MOB) located in the Penn Mark Plaza office park in Carmel, Indiana.
The MOB is occupied by Ascension-St. Vincent, Turkle & Associates Center for Plastic Surgery and Abram’s Eyecare – a third-generation practice with three locations.
Echo Real Estate Capital is a full-service real estate investment and development firm with a national platform specializing in build-to-suit development, value-add investments, sale/leasebacks and capital markets advisory services for healthcare providers, national retailers, industrial manufacturing and distribution companies and general office users. It is based in Chicago, Illinois.
Echo’s Indianapolis portfolio now includes five buildings and nearly 200,000 square feet of hospital-anchored clinical medical space. The undisclosed seller was represented by Colliers International and Echo Real Estate Capital was represented by Jackson Investment Group. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this represents the 179th MOB transaction of 2023, as well as Echo Real Estate’s second MOB acquisition of the year. In April 2023, the company acquired a 7,550-square-foot MOB in Morton Grove, Illinois for an undisclosed price.
