Lincoln Advisors, an affiliate of international real estate firm Lincoln Property Company, has acquired the Northwest Medical Center, a four-story, 149,202-square-foot medical office building (MOB) in the Buckhead neighborhood of Atlanta. Lincoln Advisors paid $71.8 million for the Class A asset.
The property is 81% leased to 25 tenants with a weighted average remaining lease term of approximately 9.4 years. The sale price is approximately $483 per square foot.
A joint venture between Harrison Street and HealthAmerica Realty Group sold the property. CBRE Group, Inc. represented the sellers and procured the buyer.
According to the LevinPro HC database this marks the 204th MOB acquisition of 2022. This is approximately a 44% increase from January 1, 2021, through December 12, 2021, when 142 MOB transactions were announced.
