$67M Deal Launches ‘Portfolio Season’: Remedy-Kayne JV Acquires Four MOBs From Everest Healthcare

“Portfolio season” in the medical outpatient building (MOB) sector appears to be in full swing.

As reported by HREI on June 18, at least 10 sizable MOB portfolios are currently in various stages of the sales cycle — from recently listed to on the verge of closing. Industry brokers say most of these portfolios, along with several high-value single-asset deals, are likely to sell. The first closings were expected by late June or early July, with transaction activity continuing through the rest of 2025.

That prediction is already playing out. One of the first big portfolio deals officially kicked off in late June with the closing of four MOBs, part of a 10-property portfolio offered by Everest Healthcare Properties.

According to the U.S. Healthcare Capital Markets team at Newmark Group Inc., which brokered the transaction, the four properties — all built-to-suit — total 202,222 square feet and are located in Arizona, Texas, Virginia, and South Carolina. The deal closed at $67 million, or about $331 per square foot, with the buildings reported to be 95% occupied.

These assets are part of the Everest U.S. MOB Portfolio, with the remaining six properties expected to be sold to three other buyers over the coming months, Newmark said. The firm is representing Everest in the sale of all 10 assets.

The buyer of the initial tranche is the well-known joint venture between Chicago-based Remedy Medical Properties and Boca Raton, Fla.-based Kayne Anderson Real Estate. The Remedy-Kayne JV has been acquiring roughly $1 billion in MOB assets annually and now holds a portfolio of approximately 35 million square feet, primarily in the medical office sector.

The seller, New York-based Everest Healthcare Properties, is an institutional real estate manager focused exclusively on medical real estate investments.

Source: HREI