MOB Transactions Roundup: HCP, Harrison Street
HCP Buys Medical Office Portfolio in Florida for $53.8 Million
Irvine, California-based health care real estate investment trust (REIT) HCP Inc. (NYSE: HCP) recently purchased three medical properties in Florida for $53.8 million, according to the Business Observer.
HCP Medical Office Buildings LLC purchased two hospitals from Health Management Associates in Naples, Florida, for $44 million. HCP also purchased a a Physicians Regional Medical Center and another 100-bed hospital.
Additionally, HCP purchased a medical office building from Health Management Associates affiliated with Bayfront Health Punta Gorda in Punta Gorda, Florida.
CBRE Completes $4.5 Million Sale of Arizona Medical Office Building
CBRE recently completed the $4.5 million sale of a 12,000-square-foot, Class A medical office building in Prescott, Arizona, AZRE reported.
Thumb Butte Medical Center is 100% leased to Thumb Butte Medical Center PLLC and Ali Askari, MD PC.
Dylan A. Brown and Andrew K. Fosberg of CBRE’s Phoenix office represented the seller, Dr. Hosn Hojatollah Askari, who signed a long-term NNN lease and will continue to be a tenant in the building. The buyer, Delaware limited liability company GMR Prescott, LLC, handled the sale in-house.
HFF Brokers $109.5 Million Sale of Former Playboy Enterprises HQ
HFF recently brokered and arranged the financing for the $109.5 million sale of the former headquarters of Playboy Enterprises, Crain’s Chicago Business reported. Today, the 29-story building houses several health care tenants, including Lurie Children’s Hospital, NorthShore University HealthSystem, Northwestern Medical Faculty Foundation and Northwestern University Feinberg School of Medicine.
Newly created, Florida-based TopMed Realty purchased the commercial portion of the property from a venture of Chicago-based real estate firm Golub and its partner, a German fund.
“This property aligns with all of our investment objectives and is indicative of our future investment plans,” TopMed CEO Roni Soffer said in a statement. “We plan to selectively acquire properties, near and integral to top-rated medical universities and hospitals, in markets with high barriers to entry and strong demographics.”
TopMed plans to make the property “the pre-eminent medical office and research building in downtown Chicago,” Soffer added in a statement.
The deal was backed by a new $75 million loan from PNC Bank and was completed on Dec. 7, 2016.
Playboy vacated the property in 2012, when the publisher’s base moved to Los Angeles.
Harrison Street Buys Medical Office Buildings in Philadelphia for $17 Million
Chicago-based Harrison Street Real Estate Capital LLC recently purchased two medical office buildings in Philadelphia from an affiliate of George Comfort & Sons Inc. of New York for $17 million, Philly.com reported.
The buildings, which are anchored by Thomas Jefferson University Hospital, comprise 86,000 square feet. Commercial real estate company Holliday Fenoglio Fowler LP marketed the assets.
The properties have undergone near complete renovations in the last 24 months and are 95% leased, HFF said. Services offered in the buildings include urgent care, hematology oncology and vascular surgery.
Written by Mary Kate Nelson
Companies:CBRE, George Comfort & Sons Inc., GMR Prescott LLC, Golub, Harrison Street Real Estate Capital, HCP, HCP Medical Office Buildings LLC, Health Management Associates, HFF, Holliday Fenoglio Fowler LP, PNC Bank, TopMed Realty