Alliance Consolidated Group of Companies Acquires 4 MOBs in Central Florida
Alliance Consolidated Group of Companies announced on October 20 it has acquired a portfolio of four net-leased medical office buildings in central Florida. The properties, which total 25,483 square feet and are located in Winter Haven, Lake Wales, Inverness and Pinellas Park, Florida, are all operated by Florida Dermatology and Skin Cancer Centers, a comprehensive dermatological center that specializes in general dermatology, cosmetic dermatology and skin cancer treatments. Alliance purchased the properties from Florida Dermatology and Skin Cancer Centers as part of a sale-leaseback. The $8.6 million acquisition is the second made by Alliance Medical Fund I, a $50 million equity... Read More »
Anchor Health Properties Acquires Johns Creek, Georgia Medical Office Building
Anchor Health Properties announced on October 19 that it acquired a medical office building in Johns Creek, Georgia. Terms of the deal were not disclosed. Completed in 1998, the Class A, 96,357-square-foot, four-story property is a former commercial office building that will be fully converted to medical office space. The property is 30 miles from Atlanta and one mile from Emory Johns Creek Hospital. The building was purchased in an off-market execution via a joint venture with Chestnut Healthcare Fund II, an equity fund Anchor co-manages with Chestnut Funds, and funds managed by global investment firm Carlyle. The seller was a private entity formed by six of the property’s tenants.... Read More »
Agora Realty & Management Acquires Tarzana, California Medical Office Building for $30 Million
Calabasas, California-based Agora Realty & Management acquired a 75,000-square-foot medical office building in Tarzana, California, for $30 million. The three-story Tarzana Medical Plaza is 90% occupied with tenants that include Providence Healthcare Systems, Cedars-Sinai Medical Care and Unilab Corp. Interior and exterior changes will be made at the property. The interior renovation will include upgraded elevators, modern corridor finishes, lighting upgrades and expanded and renovated lobby areas. Solar panels will be added. Agora’s portfolio encompasses more than 2 million square feet of retail space in the western U.S. with several new, ground-up developments in various phases of... Read More »
Montecito Medical Acquires Uniontown, PA MOB
On October 14, Montecito Medical Real Estate announced that it acquired a medical office building (MOB) in Uniontown, Pennsylvania. The financial terms of the acquisition 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. The building consists of 17,865 square feet and is fully occupied under long-term lease agreements by two medical tenants: U.S. Digestive Health and Southwestern Endoscopy Center. The Uniontown acquisition continues Montecito’s expansion in Pennsylvania, where the company has acquired five... Read More »
GFH Financial Group Grabs Another Medical Office Building Portfolio
GFH Financial Group, a Bahrain-based investment firm, has purchased a portfolio of 11 medical office buildings for $400 million. The assets are spread across California, Texas, Maryland and Louisiana and have a total of 1 million square feet. The price breaks out to approximately $400 per square foot. This portfolio’s properties are anchored by Baylor Scott & White, Texas A&M Health Science Center, Texas Tech University, Memorial Hermann and Tidal Health. GFH said in its release announcing the deal that the portfolio has been performing well, “with 99% rent collection during the COVID-19 pandemic.” The assets also house different specialty providers, positioning them for... Read More »Schedule a demo
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