JLL Capital Markets facilitates record-setting sale of medical office complex in Newport Beach, CA

Monica Enes

 

NEWPORT BEACH, CA –– JLL Capital Markets has facilitated the sale of Newport Lido Medical Center, a 146,510-square-foot, two-building medical office complex in Newport Beach, California.

Kellie Hill

JLL marketed the property on behalf of an undisclosed seller. Lionstone Investments acquired the property in an all-cash transaction.

Andrew Milne

Located at 351 and 361 Hospital Rd., Newport Lido Medical Center is situated in the world-renowned medical submarket of Newport Beach and is positioned on the campus of 434-bed, Hoag Hospital Newport Beach.

 

The hospital is consistently ranked by U.S. News & World Report as the best hospital in Orange County and one of the 10 best hospitals in California.

 

Evan Kovac

The two-building medical office complex is 100% occupied by a diverse mix of healthcare tenants providing stable and predictable cash flow.

The property is anchored by Hoag Hospital Newport Beach Surgery Center and Prime Surgical Center.

 

The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Andrew Milne and Evan Kovac, Managing Director John Chun and Director Matt DiCesare, with support from Niema Beglari, Trent Jemmett and Chad Prescher.

 

Senior Director Blake Bokosky and Director Mark DeGiorgio of JLL’s Orange County office provided local expertise. Additionally, Managing Director Monica Enes and Vice President Kellie Hill of JLL’s Healthcare Brokerage team provided local healthcare expertise.

John Chun

“Newport Lido Medical Center represents one of the most significant sale transactions in the history of the medical office sector,” said Kovac.

 

“There are few, if any, single-property medical office sales that have occurred in the sector’s history that rival the profile and quality characteristics embodied in Newport Lido Medical Center.

Those include the irreplaceable location and extraordinary demographics within Newport Beach, on-campus positioning at one of the top medical centers in the country and mix of many of the top tenants and physicians in the world, among other compelling features.”

 

Niema Beglari

“Not surprisingly, we received unprecedented investment demand from a wide range of investor profiles from institutional to ultra-high net worth, which, ultimately, led us to a successful transaction.

 The buyer is a major institution and a brand-new entrant into the medical office sector,” added Kovac.

 

CONTACT:

Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com