Lee & Associates and Neil Walter & Co. Advise on $15.75 Million Outpatient Deal
Sound Credit Union, a Tacoma, Washington-based credit union, announced that it purchased a medical outpatient building (MOB) occupied by Sound Physicians for $15.75 million. Built in 2003, the five-story MOB comprises 54,500 square feet and is based in Tacoma, Washington. The MOB’s occupancy increased from 60% to 83% over an undisclosed two year period. The price is $289 per square foot. Sound Credit Union was represented by Harrison Laird of Lee & Associates. Bruce Valentine of Neil Walter Co. represented the seller, a group of private investors that includes Korum Automotive Group President John Hall. The press release notes that the purchase price is more... Read More »
Echo Real Estate Capital Sells Medical Outpatient Building in Massachusetts
Echo Real Estate Capital announced the sale of an on-campus medical outpatient building (MOB) for $9.57 million dollars. The acquirer was not disclosed. The MOB is approximately 59,000 square feet and is located in Haverhill, Massachusetts on the campus of the 122-bed Lawrence General Holy Family Hospital. The building was roughly 90% occupied at the time of sale by 20 tenants that include Revere Medical, Northeast Rehab, Mobility Bone and Joint Institute and PhyNet Dermatology. “This was an incredible outcome for a heavy value-add transaction. We acquired the building in 2021 which was a much different investment climate,” said Echo principal Jon Boyajian. “Half-way through... Read More »
Greenstone Partners Advises Sale of Naperville, Illinois MOB
Greenstone Partners announced that it has successfully completed the sale of a property in Naperville, Illinois. The property traded for more than $6 million. The 55,000-square-foot multi-tenant office and medical outpatient building (MOB) is located in Naperville, Illinois, a suburb of Chicago. The building is anchored by a behavioral health and mental health service practice, Advanced Behavioral Health Services, which occupies the entire third floor and recently expanded and extended its lease through 2029. The tenancy is a diverse and strong mix of medical users and general office. At 86% occupancy, the buyer had the opportunity to acquire a cash-flowing asset with additional upside... Read More »
Woodside Health and Heitman Acquire Twelve Oaks Professional Center in Austin, Texas
Woodside Health and Heitman announced the acquisition of Twelve Oaks Professional Center, a medical outpatient building (MOB) in Austin, Texas. The original press release notes that this transaction represents Woodside Health’s 66th acquisition in the MOB space. Terms were not disclosed. The MOB comprises five buildings and approximately 42,500 square feet of leasable space. Situated on four acres of land, it offers convenient access to Highway 183. The MOB is tenanted by a mix of medical providers. Woodside Health is a private equity firm that invests in healthcare real estate. Since 2008, the firm has acquired more than 4 million square feet of healthcare real... Read More »
Cypress West Partners and TPG Angelo Gordon Acquire Arizona and Nevada MOB
On August 8, Cypress West Partners and TPG Angelo Gordon announced the acquisition of two medical outpatient buildings (MOBs). The transaction included one location in Tucson, Arizona, and one location in Las Vegas, Nevada. The financial terms were not disclosed. The Tucson MOB comprises two buildings and totals 68,000 square feet. The MOB has a diverse rent roll that is anchored by Northwest Hospital at 34% of the building. Other specialties located within the properties include bone and joint, primary care, internal medicine, eyecare/cataract surgery, family medicine, endocrinology, cardiovascular and amputation prevention. The Las Vegas MOB is a three-story building that... Read More »Schedule a demo
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