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Flagship Healthcare Properties Expands Presence in Florida
Flagship Healthcare Properties announced that it purchased a medical office building (MOB) in Winter Haven, Florida. The 27,910-square-foot property was built in 2005 and was renovated in 2020. It is anchored by the Center for Retina and Macular Disease, an ophthalmic subspecialty group and Davita, one of the largest kidney care providers in the country. Flagship Healthcare is a developer of post-acute care networks. It is a provider of rehabilitation, skilled nursing, subacute care, home health, pharmacy and other services. ERE Healthcare Real Estate Advisors represented the sellers. The financial terms were not disclosed. This is Flagship Healthcare Properties’ fourth acquisition... Read More »
KPMG Managing Director Sees Compressed Valuations in 2023 MOB Market
Rising interest rates will benefit buyers with access to capital Investors focusing on the medical office building (MOB) market in 2023 will be able to take advantage of favorable valuations as interest rates climb. That’s the message from Eric Lewandowski, managing director at KPMG. Lewandowski, based in Detroit, is involved in 10 to 20 MOB deals per year on the sell and buy sides. “There is increased pressure on valuations given higher lending rates, which is likely to work against valuations,” Lewandowski said. “Opportunistic buyers with access to lending may be swayed by value-focused buying opportunities and decide to take the expensive financing upfront with a plan to... Read More »
Buchanan Street Partners Buys Laguna Hills, CA MOB
Buchanan Street Partners is acquiring Oakbrook Plaza, a four-story, 120,354-square-foot office property in Laguna Hills, California. Buchanan is purchasing the building from a New York City-based fund manager for $28.1 million in an off-market transaction. Kevin Shannon, Paul Jones and Brandon White with Newmark represented the seller in the transaction. The Laguna Hills property is located less than one mile from MemorialCare Saddleback Medical Center and near several retirement communities. The property is 66% occupied, of which 30% of the existing space is leased to medical tenants. Buchanan Street Partners is a real estate investment management firm based in Newport Beach, California.... Read More »
Anchor Health Properties Acquires Clackamas, Oregon MOB
Anchor Health Properties announced its acquisition of a 19,916-square-foot medical office building (MOB) in Clackamas, Oregon, through its Chestnut Healthcare Fund II, a discretionary equity investment vehicle co-managed with Chestnut Funds. Synovus Bank provided debt financing for the asset that was sold by Providence Health. Terms of the deal were not disclosed. Completed in 2009, the building is part of a two-building campus totaling 55,000 square feet. The fully leased building is anchored by Clackamas Radiation Oncology Center, a joint venture between Providence Health and The Oregon Clinic division of Radiation Oncology. The tenant roster also includes the Cancer Institute... Read More »
Montecito Medical Acquires 4-Building Medical Office Property
Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a four-building portfolio in eastern Indiana and western Ohio. All four buildings, which total nearly 32,000 square feet, are tenanted by Whitewater Eye Centers. The properties include the group’s headquarters in Richmond, Indiana. The acquisition expands Montecito’s footprint in Indiana and Ohio. Terms of the deal were not disclosed. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. According to the LevinPro HC... Read More »Schedule a demo
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