Washington, DC-based National Real Estate Advisors, LLC, through its recently formed joint venture with Catalyst Healthcare Real Estate, has completed the acquisition and recapitalization of two multi-state healthcare portfolios totaling $420 million.

The portfolios consist of 40 properties totaling 1.2 million square feet spanning 13 states including: AL, AR, CT, FL, GA, IL, IN, LA, MA, NC, TN, TX and VA. The portfolios are 92% leased, and 88% of the total leased space is comprised of health systems and regional physician groups.

According to the companies, the partnership will enable Catalyst to continue expanding its portfolio of medical office buildings throughout the US and allow National to further its mission to deliver solid, long-term returns on investment for clients while making communities more connected, sustainable and vibrant.