CBRE IM Fund Invests in Mission Viejo Medical Portfolio

CBRE Investment Management, on behalf of a fund it manages and through a JV with Healthcare Realty Trust, has acquired a four-building medical office portfolio in Mission Viejo, CA for an undisclosed price. 

“Medical office is a new strategy for our fund,” said CBRE Investment Management’s Larissa Belova. “Similar to the life science sector, the medical office sector is attractive because the aging population coupled with the pandemic have increased spending on healthcare. Our strategy focuses on assets within thriving hospital systems that create beneficial ecosystems for doctors and patients.”

Located on the campus of a leading acute care hospital, the portfolio, totaling 283,000 square feet, includes Mission Medical Center Building 1-3 and Mission Medical Center Tower. The recently renovated buildings feature ample surface parking, on-site pharmacies, renovated lobbies, gurney-sized elevators, upgraded landscaping and sustainability elements including a new HVAC roof system and LED lights.