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LaSalle Claims Trophy 28-Story Houston MOB
LaSalle Investment Management acquired Memorial Hermann Medical Plaza, a trophy medical office tower in Houston, on behalf of LaSalle Property Fund, its U.S. core open-end real estate fund. The seller, which opened the property in 2007, is a partnership comprising Mischer Healthcare, Memorial Hermann Health System and other private investors.
The 28-story, 510,000-square-foot, Class A+ medical office building is prominently located in the Texas Medical Center, a 2.1-square-mile medical district and the world’s largest medical complex, comprised of more than 60 member institutions, six major hospital campuses and more than 50 million square feet of healthcare, educational and research space.
The state-of-the-art facility boasts an iconic design with highly-efficient modern construction, retail amenities, TMC campus connectivity and a 13-level integrated parking garage. The 99%-occupied property’s anchor tenant is Memorial Hermann, one of the largest not-for-profit healthcare systems in Southeast Texas.
HFF’s Scott Galloway, Colby Mueck and Rusty Tamlyn represented the sellers.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition