Remedy Medical Properties and Kayne Anderson Real Estate partnered for the purchase of a 35,000-square-foot medical office building (MOB) in Brunswick, Ohio. Two companies, gastroenterology specialist One GI and The MetroHealth System, currently occupy the building. The venture bought the fully occupied offices for $11 million, totalling $314.29 per square foot.
The acquisition comes after Digestive Disease Consultants, the original tenant of the building and seller in the transaction, merged with One GI earlier this year.
Remedy Medical Properties is a full-service healthcare real estate company and the largest private owner of healthcare properties in the country, with more than 26 million square feet and 23 offices spanning 42 states.
Kayne Anderson Real Estate is a private equity real estate firm with an operator oriented investment platform that focuses on medical office, high-end seniors housing, off-campus student housing/multifamily and self-storage.
According to the LevinPro HC database, this marks the 184th acquisition in the medical office building subsector, and the 21st MOB acquisition of the quarter. This also marks Remedy Medical Properties’ sixth acquisition of the year and its second joint venture with Kayne Anderson Real Estate. The two companies previously acquired a Hackettstown, New Jersey MOB together in August 2022.
