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Chicago & Midwest  + Midwest  + Healthcare  | 

Transwestern Brokers $72M Sale of Twin Cities Medical Office

Transwestern Real Estate Services (TRS) closed the sale of Hudson Medical Center to Hammes Partners, a private investment platform focused exclusively on healthcare real estate.

The seller, Hudson Medical LLC, was represented by Transwestern’s Frank Richie, Mike Salmen, Erik Coglianese and John Huff. Completed in 2023, Hudson Medical Center is a 160,000-square-foot, multi-specialty medical office building and ambulatory surgery center located in a high-growth corridor in Hudson, Wisconsin, within the Minneapolis-St. Paul metropolitan area.

“Although capital markets were disjointed in 2023, the seller capitalized by offering a high-quality product along with excellent tenancy to drive a strong sale price,” said TRS Vice President Frank Richie. “Additional proceeds from an interest rate swap delivered a strong yield for the project as well.”

Featuring an ambulatory surgery center and orthopedic field house, Hudson Medical Center was awarded the 2023 Medical Project of the Year by the Minnesota Real Estate Journal.

Photo courtesy of Brandon Stengel

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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