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Värde Acquires Unity Investment Management to Oversee Medical Outpatient Portfolio
Värde Partners, a global alternative investment firm, said Thursday it had acquired Unity Investment Management from Unity Medical Properties. Operating as a wholly owned subsidiary of Värde, Unity Investment Management will oversee the day-to-day management and leasing of 74 medical outpatient buildings with a combined value of more than $800 million.
The acquisition supports Värde’s recent deal for a $700-million portfolio of 61 MOBs, 59 of which closed in July and two of which closed earlier this month. Totaling approximately 2.75 million square feet across 16 states, the portfolio includes tenants across a range of medical clinical practice types.
“Building on our years of investing with the Unity team, this transaction enables us to expand Värde’s presence in healthcare real estate and continue our strategy of developing thematic asset verticals,” said Tim Mooney, managing partner and global head of real estate at Värde.
He continued, “The long-term structural shift in healthcare from in-patient care to outpatient care creates a compelling dynamic to invest in this sector, and we expect there will be an opportunity to grow our portfolio to over $2 billion over the coming years. Our conviction in the sector is bolstered by the defensive nature of the assets with sticky, high-credit quality tenants, recession-resilient underlying businesses and strong cashflow yields.”
