JLL Closes Sale of Offices Leased to Cincinnati Children’s Hospital Medical Center
JLL Capital Markets completed the sale and arranged financing for 400 Oak St. and 2905 Vernon Pl., a two-building office portfolio totaling 303,130 square feet in Cincinnati. The sale price wasn’t disclosed.
JLL represented the seller, 90 North Real Estate LLP, and procured the buyer, Azora Exan. Additionally, JLL arranged the acquisition loan on behalf of Azora.
The two properties are fully leased to investment grade tenant Cincinnati Children’s Hospital Medical Center for administrative functions as well as various nonclinical mission-critical uses. Both assets are positioned central to the Cincinnati Children’s surrounding network of clinical campuses and are located within the 65-acre Cincinnati Innovation District, which is home to leading research institutions, hospitals and universities.
JLL’s Capital Markets Investment Sales Advisory team representing the seller was led by senior managing directors Jaime Fink and Bruce Miller and senior directors Sam DiFrancesca and Patrick Shields.