Trophy MOB Located On Campus Of St. Joseph Hospital In Denver Sold

CBRE announced that it facilitated the sale and financing of St. Joseph Medical Pavilion, a 99,503-square-foot medical outpatient building located at 1818 N. Ogden Street in Denver, Colorado.

CBRE’s U.S. Healthcare Capital Markets team partnered with CBRE’s Denver Healthcare Leasing team to serve as exclusive advisors to the seller, Fidelis Healthcare Partners. In addition, CBRE’s U.S. Healthcare Debt & Structured Finance team—Zack Holderman, Anthony Sardo and Jesse Greshin—secured acquisition financing on behalf of the buyer, Lincoln Property Company.

St. Joseph Medical Pavilion is a premier Class A+ medical outpatient facility located on the campus of the 400-bed St. Joseph Hospital, ranked #2 in Denver by U.S. News & World Report (2024–2025). The property sits within Downtown Denver’s designated medical district, providing direct access to the region’s most concentrated healthcare ecosystem.

Currently 82% leased, the building is anchored by Intermountain Health (Moody’s: Aa1), which expanded its presence in 2024 to include a new cancer center and comprehensive cardiac care supported by advanced imaging technology. Additional tenants include well-established local physician groups specializing in pediatrics, ENT, audiology and dentistry, creating strong referral networks and convenient patient access.

“The St. Joseph Medical Pavilion is one of the highest-quality medical buildings in the Denver metropolitan market,” said Chris Bodnar, Vice Chairman of CBRE’s U.S. Healthcare Capital Markets practice. “With limited new supply in Denver and growing demand, the property is well positioned to benefit from strong leasing momentum in the market.”

The property is located within the Denver MSA, a highly targeted market for healthcare real estate investors. Situated in the Uptown Medical District, one of Downtown Denver’s most desirable submarkets, the surrounding population within a three-mile radius has grown 38% since 2010 and is projected to increase an additional 10.7% by 2030.

Downtown Denver currently has a population of approximately 250,077 within a three-mile radius and an average household income of roughly $150,000—29% above the national average. Healthcare spending per capita in the area exceeds the national average by 1.5 times, further supporting long-term demand for healthcare services.

Lincoln Property Company, the buyer, is one of the largest private real estate firms in the United States, providing a full range of services and innovative solutions for owners, investors, lenders and occupiers of commercial real estate.

Fidelis Healthcare Partners, the seller and an affiliate of Fidelis, is a full-service healthcare real estate firm focused on the long-term development and ownership of hospital-sponsored and physician-owned medical real estate both on and off campus.

Source: HREI