Four Corners Property Trust Acquires Medical Outpatient Properties for a Combined $6.8 Million
Four Corners Property Trust (FCPT) announced that it was expanding its presence in both Iowa and Missouri, buying a MercyOne outpatient clinic property, as well as a Mercy Health property. The MercyOne outpatient clinic property is in Iowa. It is corporate-operated under a long term, triple net lease with approximately six years of term remaining. It was sold for $3 million. The transaction was priced at a 7.2% cap rate on rent as of the closing date and exclusive of transaction costs. The Mercy Health property is in a strong retail corridor in Missouri and corporate-operated under a triple net lease with approximately five years of term remaining. The transaction was priced... Read More »
Nova Sky Investments Acquires Novi, Michigan Medical Outpatient Building
Nova Sky Investments, LLC announced that it acquired a medical outpatient building (MOB) in Novi, Michigan for $9.3 million. The price breaks down to $256 per-square-foot. The two-story, 36,338-square-foot building is fully leased to Rehabilitation Physicians PC and Ascension Medical Group of Michigan. Nova Sky Investments is a leading real estate investment firm, property management and realty company in the Detroit MSA. It was founded more than 12 years ago. According to data captured in the LevinPro HC database, this acquisition marks the 79th MOB transaction of 2024. In 2023, 194 MOB transactions were reported, and in 2022 there were 216 announced.... Read More »
National Dental Healthcare REIT Expands Portfolio Across Multiple States
National Dental Healthcare REIT (NDH REIT), a member of the Thurston Group portfolio, has announced the completion of its latest real estate acquisition. The acquired properties include nine medical outpatient buildings (MOBs) located across New Mexico, Arizona, Georgia, Colorado, Mississippi, Texas and Alabama. NDH REIT partners with dental care providers in the general dental and specialty dental fields who own their real estate. NDH REIT was formed in mid-2020 by Thurston Group, a private equity firm focused on investments in healthcare service companies. Since then, the REIT has expanded to include 174 properties in 21 states. This move further solidifies NDH REIT’s position as a... Read More »
Montecito Medical Acquires 6 Ophthalmology MOBs in Atlanta, GA MSA
Montecito Medical, a leading acquirer of medical office properties nationwide, announced on June 4 that it has completed the acquisition of a portfolio consisting of six medical outpatient buildings (MOBs) in the Atlanta, Georgia MSA. The six MOBs, which represent a combined total of more 85,000 square feet, are 100% occupied. Thomas Eye, a dominant eye care provider in the area, serves as anchor tenant. The buildings are situated in the suburban and exurban communities of Roswell, Sandy Springs, Tyrone, Newnan, Woodstock and Lilburn, Georgia. Two of the properties include surgery centers for ophthalmic procedures. Montecito Medical Real Estate specializes in healthcare-related real estate... Read More »
Vitalis Properties Acquires Medical Outpatient Building for $12 Million
Vitalis Properties announced that it was acquiring a 30,165-square-foot medical outpatient building (MOB) in Jacksonville, Florida for $12 million. The price is approximately $398 per-square-foot. Cross Regions developed the build-to-suit MOB for Coastal Health in 2022. The facility includes clinical space for Coastal Health’s orthopedic, spine, pain management, podiatry and physical therapy practices, in addition to an 8,000-square-foot ambulatory surgery center on the first floor. Vitalis is a vertically integrated real estate investment company focused on healthcare real estate investment sales, acquisitions and leasing across the United States. Vitalis Managing... Read More »Schedule a demo
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