Excelsior Capital Acquires Chattanooga MOB
Nashville-based private equity firm Excelsior Capital has purchased a 17,837-square-foot medical office building (MOB) in Chattanooga, Tennessee for $7.4 million, or approximately $415 per square foot. The MOB was built in 2014 and houses the Center MedSpa on the first floor and the Center for Integrative Medicine on the second floor. The property is at 100% occupancy and the 1.2-acre site includes both on-street and off-street parking. Excelsior Capital is a real estate private equity firm based in Nashville, Tennessee. Excelsior Capital typically targets stable assets, typically in the $8 million to $20 million range, in healthy submarkets that have a strong history of occupancy. ... Read More »
Montecito Medical Acquires Lynchburg, Virginia Women’s Health MOB
Montecito Medical has completed the acquisition of a women’s health medical office building (MOB) in Lynchburg, Virginia. The property, which offers 21,657 square feet, is 100% occupied under a long-term lease by Women’s Health of Central Virginia. The acquisition continues the expansion of Montecito’s footprint in central Virginia. Dana Hamric, CEO of Hamric Capital, arranged the transaction and served as the exclusive financial advisor to the seller, Women’s Health of Central Virginia. 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.... Read More »
Big Sky Medical Acquires San Antonio, TX MOB from Mohr Capital
Cushman & Wakefield announced on November 7 that it had brokered the acquisition of a medical office building (MOB) in San Antonio, Texas by Big Sky Medical, a national real estate investment management firm. The building was purchased from Mohr Capital, which previously acquired the MOB in 2021. County records show a loan from BMO Harris Bank of about $192 million taken out by Big Sky related to the property. The deal’s terms were not disclosed. Alamo Quarry Center is a 99% leased office building in San Antonio, Texas with mainly medical tenants. The 38,370-square foot complex, located along Highway 281, was appraised this year by Bexar County at $12.3 million. Big Sky Medical... Read More »
Joint Venture Acquires Brunswick, Ohio MOB
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... Read More »
Medical Office Building M&A Activity Soars: Anchor Health & JLL Make Big Moves In the Market
Through the first half of 2022, the medical office building (MOB) space had been busy, creating near-record breaking deal volume. As one of the most active markets, many people, us included, have considered it to be impervious to recession or economic stress. But, as 2022 continues onward, industry experts are starting to see a decline in deal activity. Economic pressures such as higher labor costs and the looming (or already upon us) recession, there is much to cause concern as operators doubt tenant’s rent paying abilities. From January 1 through October 28, 2022, there have been 180 MOB deals, which is a 62% increase from the same time frame of 2021 when 111 deals were recorded.... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
