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Transwestern Brokers Trade of Three Minneapolis-Area MOBs
Transwestern Real Estate Services (TRS) represented Hammes Partners, a private investment platform focused on healthcare real estate, in the acquisition of three medical office assets in the Minneapolis area totaling 50,853 square feet.
The transaction was led by Vice President Frank Richie with the assistance of Managing Principal Mike Salmen and Senior Associate Erik Coglianese, members of Transwestern’s Midwest Capital Markets and Asset Strategies team. “Healthcare real estate, especially quality medical office buildings with long-term leases in growing markets, continues to be a sought-after asset class,” said Richie.
Dean Williamson and Ross Hedlund represented the owner, Frauenshuh in the transaction. The sale price was not disclosed. The portfolio includes 2380 Rosemary Way in Lino Lakes, a 12,411-square-foot medical office building, and 525 N. Knowles Avenue in New Richmond, a state-of-the-art medical office building comprising 19,537 square feet. It also includes 2950 Curve Crest Blvd. in Stillwater, an 18,905-square-foot building.
