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| Mindy Berman |
BOSTON, MA, Nov. 9, 2020 – JLL Capital Markets announced today that it has completed the sale of a core medical office (MOB) portfolio totaling 439,000 square feet across seven properties, primarily located on hospital campuses in top metro areas in Indiana, Illinois and Missouri.
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| Daniel Turley |
JLL represented the seller, and procured the buyer, Healthpeak Properties, Inc.
The properties are strategically aligned with the Midwest’s
top integrated healthcare systems, including Ascension, Franciscan, AMITA and
University of Missouri Health.
The Class A portfolio is 93% occupied,
including 75% direct health system occupancy, offering stability of income at
critical campus locations that have been institutionally owned and operated for
many years.
The buildings, which average approximately 62,000 square feet, are a blend of single and multi-tenancy and feature surgery centers, cancer treatment centers and advanced diagnostic imaging.
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| Tim Joyce |
The properties are located in Indianapolis, Mooresville and Zionsville, Indiana as well as Bolingbrook, Illinois and Columbia, Missouri.
The JLL Healthcare Capital Markets team representing the
seller was led by Senior Managing Directors Mindy Berman and Daniel
Turley, Managing Director Tim Joyce and Senior Director Brannan
Knott.
“Medical office investments have been highly favored for the past
several years and throughout the pandemic due to their defensive investment
qualities – long-term leases, stable occupancy and income, strong tenant credit
quality and high tenant retention,” added Berman.
“With
many investors activating their dry powder, we anticipate this sector will
remain strong through 2020 and well into a post-COVID environment.”
JLL Capital Markets is a full-service global provider of capital solutions
for real estate investors and occupiers.
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| Brannan Knott |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL, please
visit our newsroom.
CONTACT:
Kristen
Murphy
JLL
Senior Manager
Public Relations
Phone: +1
617 848 1572
Email: Kristen.Murphy@am.jll.com
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