|
|||||
|
Wednesday, May 23, 2012 Office
Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 1, a portfolio of five medical office buildings in Florida and Kansas, from a consortium of sellers for $63.95 million. The 163,000 square foot portfolio was purchased from TST Overland Park, L.P., TST Tampa Bay, Ltd., TST Largo ASC, Ltd., TST Brandon, Ltd. and TST Lakeland, Ltd. The sellers were represented by Michael Davis and Joseph Dominguez of Cain Brothers. The Doctor's Medical Building is a five-story property that contains 63,000 square feet in the Overland Park Regional Medical Center (OPRMC) in Overland Park, Kan. Built in 1978, it is currently 96 percent occupied. The OPRMC is the building's largest tenant with a 40,000 square foot lease. The Largo Medical Arts Center is located on the campus of the Largo Medical Center (LMC) in Largo, Fla. It was built in 1986 and contains 33,000 square feet. The LMC currently occupies more than 6,500 square feet, or 20 percent, of the building. The West Bay Surgery Center, also in Largo, was built in 1975 and renovated in 1990. It contains 15,000 square feet and is located on the campus of the Largo Medical Center. The single-story building is currently 100 percent leased. The Brandon Medical Plaza is a 42,000 square foot medical office building in Brandon, Fla. Built in 1997, the single-story building contains 42,000 square feet and is 97 percent leased to Brandon Regional Hospital. The Central Florida SurgiCenter was built in 1995 and contains 10,000 square feet in Lakeland, Fla. It is 100 percent leased to Surgicare of Central Florida, Ltd. The acquisition was financed with a $22 million secured loan from Wachovia Bank and $16 million in borrowings under a line of credit with LaSalle Bank National Association. Davis is a managing director with Cain Brothers and has been with the company since 2004. He is a former broker with Ernst & Young and acquisitions executive for Commercial Net Lease. He earned his bachelor's degree from Miami University and his master's degree from the University of Chicago. Dominguez joined Cain Brothers in 2006 as an associate in the firm's Real Estate Group. Prior to joining the company, he was an employee of Miller Capital Advisory where he specialized in the acquisition of malls on behalf of institutional clients. He is a graduate of the University of Illinois. Size: five properties/162,000 square feet Built: 1975-1997 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
No comments have been posted in the last 15 days! Send us your comments on this article
Related Headlines
|
|
|||||||||||||||||||
|
|||||||||||||||||||
© 2007 crefeed.com. All Rights Reserved.