Värde Partners has acquired a medical outpatient building (MOB) in Blue Ash, Ohio for $40 million, including $16 million in cash, according to Hamilton County Auditor documents.
Cincinnati Eye Institute, whose parent company was acquired for $600 million by St. Louis-based EyeCare Partners in 2021, occupies the MOB as a tenant. Constructed in 1985, the building last sold in 2005 for $9.7 million. It was most recently appraised in 2023, resulting in an $18 million valuation. The 113,723-square-foot building, which includes an outpatient surgical center and medical offices, is being sold for more than $351 per square foot.
Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. It was founded in 1993 and the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets.
“The sale has no impact on operations at this time. We look forward to serving the eye care needs of our patients,” a spokesperson for the MOB said.
According to data captured in the LevinPro HC database, there have been 118 MOB transactions announced since January 1, 2024. This also marks Värde Partners’ second acquisition of 2024. In July, the company acquired an ambulatory surgery center in Palm Beach Gardens, Florida alongside Unity Medical Properties for $14.5 million.
