Inland Private Capital Trades MOBs in IL, MA
Inland Private Capital Corporation (IPC) has sold four freestanding medical office properties in Illinois and Massachusetts for a gross sale price of $45.7 million. IPC facilitated the sale of the properties on behalf of the Medical Office Portfolio DST, one of its 1031 investment programs. The company didn’t disclose the buyer or buyers.
Three of the properties—in the northwest suburbs of Bartlett, Elk Grove Village and Schaumburg (pictured)—are leased to Barrington Orthopedic Specialists. IPC purchased the three properties, which total nearly 75,000 square feet, in June 2014.
The fourth property is in Plymouth, MA, about 40 miles south of Boston. The 30,803-square-foot building is leased by Jordan Physician Associates, a Massachusetts not-for-profit.
“The Medical Office Portfolio DST was another successful full-cycle transaction on our medical office investment platform for IPC’s investors,” said Keith Lampi, IPC’s president and COO. The sale resulted in a total return to investors of 142.10%.
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