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Eleven U.S. Medical Office Buildings Acquired By The GFH Financial Group In A $200 Million Dollar Deal

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An investment bank based in Bahrain has acquired 11 medical office buildings in the U.S. in a $200 million deal.

The transaction increases the value of GFH Financial Group’s U.S. healthcare portfolio to more than $400 million. The combined facilities comprise more than 400,000 square feet of space in Texas, North Carolina, South Carolina, Georgia, Utah, Wisconsin, and Ohio.

Tenants of the medical office buildings include Dallas-based Baylor Scott & White Health, Cleveland Clinic,  and Winston-Salem, N.C.-based Novant Health.

“The pandemic has underlined a need for more outpatient services and continued demand for healthcare services. As a result we are seeing strong investor sentiment in the medical offices sector,” said Nael Mustafa, co-chief investment officer-real estate at GFH. “This trend is particularly true in the U.S., where healthcare spending comprises around 18 percent of gross domestic product, compared to around 10 percent for most other developed countries. The recession-proof investments such as healthcare are capable of delivering returns for shareholders, and GFH is confident its medical office portfolio will help capitalize on the growing demand for healthcare in the U.S.”

 

Source: Becker’s ASC Review

Healthpeak Properties Makes $371 Million, 14-MOB, 833,000 Square Foot Portfolio Acquisition

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Healthpeak has not revealed the specific properties that were part of its 14-MOB portfolio acquisition. But in its “Q1 Earnings Release and Supplemental Report,” the cover photo caption states that the property shown, which HREI has determined to be 601 Watkins Centre Parkway in Midlothian, Va., occupied by Bon Secours Mercy Health, was acquired in April. The timing and health system affiliation are consistent with what the REIT reported about the transaction. (PHOTO CREDIT: Healthpeak)

In a significant deal that took place in recent weeks, Denver-based Healthpeak Properties Inc. on April 30 acquired a 14-property, 833,000 square foot medical office building (MOB) portfolio for $371 million.

News of the purchase surfaced in the Q1 earnings report recently released by the publicly traded real estate investment trust (REIT) as well as during the REIT’s May 5 earnings call with securities analysts, during which officials discussed certain aspects of the acquisition.

In its Q1 earnings report, Healthpeak notes that the deal was an “off-market” one and that the facilities are all on hospital campuses or are in off-campus locations but affiliated with “investment grade health systems.”

The MOBs, according to Healthpeak’s Q1 report, are heavily concentrated in the markets of Minneapolis, Chicago, Philadelphia, Washington, D.C., Los Angeles and Dallas.

 

Source: HREI

PEBB, Tortoise Properties Acquire Jupiter Medical, Office Building For $31M

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Private real estate investment company PEBB Enterprises and Tortoise Properties, family office focused on acquiring residential and commercial legacy assets, have acquired the Jupiter Innovation Center, a 186,238-square-foot office building in Jupiter.

The sales price was $31.4 million.

Located at 1701 Military Trail, Jupiter Innovation Center is the town’s largest for-lease office building. The single-story campus is just one mile south of the 327-bed Jupiter Medical Center, a 55,000 square foot, state-of-the-art cancer center.

Jupiter Innovation Center has a mix of medical, office and research and development tenants. Florida Turbine Technologies is the largest tenant at JIC with more than 64,000 square feet, and has occupied space at the building since 2005.

Scott O’Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the undisclosed seller in the transaction. Additionally, Jason Hochman of Cushman & Wakefield arranged a $30.5 million loan from Rialto Capital Management as part of the transaction.

 

Source: Connect Media