Shuman Development Group announced its acquisition of two medical office buildings (MOBs) Pennsylvania from Penn State Health.
The Penn State Health St. Joseph downtown properties in Reading, Pennsylvania are located at 604 Walnut Street and 145 North 6th Street. Haven Behavioral Hospital of Eastern Pennsylvania, an acute care behavioral health hospital, is housed on the third floor of the North 6th Street property.
Shuman Development Group is a Reading, Pennsylvania-based real estate developer.
Following the sale, which is expected to close in October 2023, Penn State Health will become a tenant in the buildings. Terms were not disclosed.
According to data captured in the LevinPro HC database, this transaction marks the 141st MOB transaction of 2023. This is also Shuman Development Group’s first acquisition of the year.
