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CBRE’s Atlanta Office Brokers Recap of $350M, 23-Property MOB Portfolio
CBRE in Atlanta has recapitalized a 12-state, 23-property, 1-million-square-foot medical office building portfolio in excess of $350 million in value. The portfolio includes properties in CA, FL, IN, KY, MO, NC, NY, OH, PN, TN, TX and WV.
Kayne Anderson Real Estate and Chicago-based Remedy Medical Properties acquired a majority interest in the portfolio from Dallas-based MedProperties Realty Advisors, who will retain a minority interest, and continue as asset manager on behalf of the joint venture.
CBRE’s Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman represented MedProperties in the transaction. “Medical office continues to be one of the most compelling investments in the alternative sectors of real estate,” said Lee Asher, vice chairman at CBRE.
Approximately 71% of the portfolio is leased to leading hospitals, health systems and investment grade organizations. The entire collection of properties was 94% leased at the time of sale with a weighted average remaining lease term of 8.3 years.
- ◦Sale/Acquisition
- ◦Financing
