Nuveen Global Cities REIT Acquires 10 Medical Office Buildings

Nuveen Global Cities REIT Acquires 10 Medical Office Buildings

Nuveen Global Cities REIT, Inc. announced that it acquired on September 8 a 10-facility medical office building (MOB) portfolio. The purchase price was approximately $300 million.  The portfolio consists of buildings in Atlanta, Pittsburgh, Tampa and Dallas and totals 661,000 square feet. The portfolio includes high-quality, newly constructed or newly renovated assets that were 96% leased at acquisition with a granular rent roll of 57 tenants.  Nuveen Global Cities REIT, Inc. (GCREIT) is sponsored by Nuveen, LLC, a TIAA company, and externally advised by its affiliate Nuveen Real Estate Global Cities Advisors, LLC, an investment advisory affiliate of Nuveen Real Estate. The... Read More »
Nuveen Global Cities REIT Acquires 10 Medical Office Buildings

HearingLife Purchases Several of Optimal Hearing’s locations in Southern United States

HearingLife announced its acquisition of Optimal Hearing Systems, Inc. locations in Georgia, Alabama, South Carolina and Florida on September 6. The financial terms of the deal were not disclosed. Optimal Hearing Systems, Inc. is headquartered in Savannah, Georgia and provides hearing aid services. It has locations in Georgia, Alabama, South Carolina and Florida. The company was founded in 1961.  HearingLife is a national hearing care company and part of the Demant Group, a global leader in hearing healthcare built on a heritage of care, health, and innovation since 1904. HearingLife operates over 650 hearing care centers across 42 states. The acquisition further strengthens... Read More »
Orthopedic Care Partners Expands Presence in Missouri

Orthopedic Care Partners Expands Presence in Missouri

On Aug. 29, Orthopedic Care Partners (OCP) announced it acquired an ambulatory surgery center (ASC) in Wentzville, Missouri for an undisclosed price, marking Orthopedic Care Partners’s second acquisition of 2022. The company previously acquired the practice of Dr. Luke Choi, an orthopedic practice in Jefferson City, Missouri.  The facility, which opened in late 2021, includes clinic space, an imaging center and two operating rooms.  OCP, a portfolio company of Varsity Healthcare Partners, is a strategic partner and support organization for top-performing orthopedic practices currently comprised of The Orthopaedic Institute (FL), The Steadman Clinic (CO), Motion Orthopaedics... Read More »
Orthopedic Care Partners Expands Presence in Missouri

Ambulatory Surgery Center in Naperville, Illinois Sold for $15.2 Million

Physician Real Estate Capital Advisors, LLC (PRECAP) announced on August 15 that it advised a sale of an ambulatory surgery center (ASC) in Naperville, Illinois for $15.2 million. The building was sold by an undisclosed seller. The acquirer is also undisclosed, but it is a privately-held company that specializes in healthcare-related real estate acquisitions. The 19,000 square foot building was built in 2008 and is occupied by Suburban Gastroenterology, Ltd. and Midwest Endoscopy Center, LLC. SGI employs nine physicians with a tenth starting in 2023. The price is $763 per square  foot.  PRECAP provides sale-leaseback and investment sale healthcare real estate advisory services to... Read More »
Montecito Medical Acquires Florida-based Medical Office Building

Montecito Medical Acquires Florida-based Medical Office Building

On August 3, Montecito Medical Real Estate announced it acquired a medical office building (MOB) in Lithia, Florida for an undisclosed price. According to the LevinPro HC database, this marks the 22nd MOB transaction of Q2:22 and the 119th MOB deal of the year. 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 37,000-square-foot building, which opened in 2021, is fully occupied under a long-term lease by Orthopaedic Medical Group of Tampa Bay. This acquisition expands Montecito’s footprint in the Tampa-St. Petersburg area.... Read More »
H.I.G. Capital Completes Acquisition of Barton & Associates

H.I.G. Capital Completes Acquisition of Barton & Associates

H.I.G. Capital, a global private equity and alternative assets investment firm based in Boston, completed its acquisition of Barton & Associates Inc. on Aug. 1. Terms of the deal were not disclosed. UBS Investment Bank and BofA Securities acted as financial advisors and McDermott Will & Emery LLP acted as legal counsel to H.I.G. JP Morgan Securities LLC acted as exclusive financial advisor and WilmerHale LLP served as legal counsel to Barton. Barton & Associates Inc. is a healthcare staffing company specializing in travel nursing, allied health care and government-related physician staffing markets. Headquartered in Peabody, Massachusetts, Barton offers staffing services on a... Read More »