Montecito Medical Buys MOB Portfolio in New York
Montecito Medical Real Estate announced that it has acquired a three-building oncology medical outpatient building (MOB) portfolio in New York for an undisclosed price. The MOB portfolio is located on New York’s Long Island and totals 72,638 square feet of rentable space. The buildings are located in Port Jefferson, Southampton and Research Ridge, New York. They are fully leased to New York Cancer & Blood Specialists, an oncology and hematology provider that operates more than 40 locations throughout New York City, Long Island and the Hudson Valley. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions... Read More »
Davis Healthcare Acquires Medical Outpatient Building Portfolio for $34 Million
Davis Healthcare Real Estate announced on June 26 that it acquired a medical outpatient building (MOB) portfolio with one location in Coralville, Iowa and one in Maplewood, Minnesota. The MOBs were purchased for a total of $34 million. Coral West Medical Building is a three-story, 60,351-square-foot MOB in close proximity to the University of Iowa campus. Davis acquired the property for $24.15 million, or approximately $400 per square foot. At closing, the building was 97% leased with more than 65% of the space leased to the University of Iowa. Among the services provided by University of Iowa Healthcare are primary care and internal medicine, obstetrics and gynecology, neurology,... Read More »
CD Healthcare Infrastructure Partners Acquires Connecticut MOB for $20.5 Million
CD Healthcare Infrastructure Partners, based in New York City, announced that it acquired a medical outpatient building (MOB) in Fairfield, Connecticut for $20.5 million. The price was $569 per square foot. The seller was Fairfield Commons, LLC, a property manager company that is based in Bridgeport, Connecticut. The MOB houses Yale New Haven Health’s Northeast Medical Group. It has 45 exam rooms and three procedure rooms for 30 providers in such specialties as family and internal medicine, cardiology, obstetrics-gynecology, endocrinology, gastroenterology, pulmonary and sleep medicine, urology, ear, nose and throat surgery and colorectal surgery. The building, which was built in... Read More »
JLL Closes on $38.3 Million Transaction
JLL Capital Markets announced on June 9 that it closed on a sale of Pembroke Pines Medical Plaza, a medical outpatient building (MOB) in Pembroke Pines, Florida. The seller was PPM Capital, LLC, an investment company based in San Antonio, Texas, which JLL represented. The acquirer was New York Life Real Estate Investors. The price was $38.3 million. Pembroke Pines Medical Plaza is located less than a mile from the 502-bed Memorial West Hospital and within 15 minutes of two other Memorial Healthcare System hospitals. Built between 2000 and 2001, the two-story MOB has gone under significant recent capital improvements. Overall, Pembroke Pines is 96.8% occupied to a diversified... Read More »
Montecito Medical Acquires Rochester, New York Medical Outpatient Building
On May 20, Montecito Medical Real Estate announced that it acquired a Rochester, New York medical outpatient building (MOB) for an undisclosed price. The MOB is occupied by Gastroenterology Group of Rochester. According to property records, the building comprises 10,395 square feet. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $6.5 billion in medical and veterinary real estate transactions. This marks Montecito Medical’s 15th transaction of the year. Since the beginning of the year, the company has purchased MOBs in Georgia, Florida, Indiana, South... Read More »Schedule a demo
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