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Investors Take Defensive Positions, Rely on Medical Assets
Real estate investors continue to mobilize within defensive positions during these turbulent times and in turn, healthcare real estate proves its resiliency during COVID, say CBRE brokers. Moreover, net-leased properties with strong tenancy and term have been in high demand in the COVID era.
One such asset is Park Plaza, a three-building medical office property in Redlands, which recently sold for $18.3 million. The buyer was undisclosed.
The Park Plaza Medical Campus located at 1776, 1782 and 1790 W. Park Ave. totals 53,325 square feet across three outpatient medical office buildings. Nearly all of its space is leased to Loma Linda University Health Care, an academic medical center that operates 1,077 beds across six hospitals.
Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger of CBRE’s U.S. healthcare and life sciences capital markets partnered with Anthony DeLorenzo, Gary Stache and Sammy Cemo. Doug Mack represented the seller, Rancho Santa Margarita-based Cypress West Partners.
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- ◦Sale/Acquisition
