A joint venture between Boca Raton, FL-based Kayne Anderson Real Estate and Remedy Medical Properties has purchased an eight-building medical office portfolio for $91 million.

A CBRE team of Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Cole Reethof, Sabrina Solomiany and Zack Holderman represented the seller, Spruce Healthcare.

The 177,000-square-foot portfolio features five medical office buildings in FL and once each in NC, TN and TX.

The portfolio is fully leased with 11 years of weighted average lease terms. Two-thirds of the overall tenancy is comprised of orthopedics, oncology, and imaging practices, which are high demand specialties with exceptional profitability. Other specialties include ophthalmology and dermatology, both of which include ambulatory surgery centers creating an ideal mix of acuity within the properties.

“The portfolio reflects an exemplary collection of clinical specialties and higher acuity uses, combined with dominant tenancy and substantial remaining lease term that has become increasingly rare in a supply constrained medical office market,” said Asher.