Nuveen Global Cities REIT Acquires Another $300M Worth Of Medical Office Buildings

The portfolio covers medical office buildings in four high-growth markets — Dallas, Pittsburgh, Tampa and Atlanta. The assets were 96% leased at the time of acquisition and are either newly constructed or newly renovated,. More than 65K SF of new or renewed leases have been signed since May, signaling strong demand despite a downturn in the economy.

Dallas Medical District Towers Up For Grabs

The 12-story Mockingbird Towers asset is located within the booming West Love/Medical District submarket of Dallas. Built in the 1970s, the almost 450,000-square-foot high-rise project has been substantially renovated with almost $11 million in upgrades since 2015.

South Florida Is Changing, And So Is Healthcare Construction

Close partnerships help futureproof healthcare facilities. Often, that starts with designs that can significantly reduce the environmental footprint and utility costs. For tropical and coastal environments like South Florida, structures need to withstand humid environments, heavy winds, and potential flooding, and hospitals must remain operational to serve patients during hurricanes or other natural disasters.