JLL Income Property Trust has acquired Kansas City Medical Office Portfolio, a more-than 50,000-square-foot, three-property medical office building portfolio with properties in and around Kansas City, MO for a  purchase price of approximately $22.2 million.

In aggregate, the three properties are 100 percent leased to a diverse tenant roster of health systems and physicians groups. The portfolio has a weighted average lease term of just under 15 years, providing long-term cash flow. 

The portfolio includes three properties:

• Roeland Park: a nearly 30,000-square-foot medical office building constructed in 2021. The property’s largest tenant is AdventHealth Shawnee Mission, a subsidiary of AdventHealth, an investment-grade rated not-for-profit health system.
• Northland Women’s Healthcare: a 10,000-square-foot medical office building constructed in 2021 and fully leased to one of Kansas City’s most established women’s healthcare providers.
• Blue Springs Pediatrics: a 10,500-square-foot medical office building fully redeveloped in 2021 as a best-in-class single-tenant property leased to a leading physician group that is subsidiary of Children’s Mercy, an investment-grade rated, not-for-profit health system.

This acquisition increases the JLL Income Property Trust’s healthcare allocation to 12 properties totaling more than 1.1 million square feet, valued in excess of $450 million and representing approximately 8 percent of its overall $5.9 billion portfolio.