Remedy, Kayne Anderson Buy $131M MOB Portfolio – What is a Ground Lease?

, Remedy, Kayne Anderson Buy $131M MOB Portfolio – What is a Ground Lease?, Robert Khodadadian

Precision Spine Care. Image courtesy of Remedy Medical Properties

Remedy Medical Properties, in a joint venture with Kayne Anderson Real Estate, has acquired the Project Prism medical office portfolio, a collection of 13 properties in eight states totaling 300,328 square feet. The fully leased assets traded for $131 million, with the participation of JLL. The previous owner was Montecito Medical Real Estate, CommercialEdge data shows.

The medical office buildings are leased on a long-term basis with a weighted average lease term of 10.4 years. Remedy CIO Joe Magliochetti stated in prepared remarks that the properties’ tenants have strong patient bases and track records, some of them being nationally renowned companies.

Optum-Marsh, Halo Breast Center, Jordan Young Institute and Precision Spine Care are some of the health-care providers that occupy the facilities. On-site medical services include orthopedics, neurology, gastroenterology, radiology, imaging and surgery, as well as general spine and pain management, family medicine and other services.

Previous joint venture acquisitions

The Project Prism portfolio is not the first acquisition for the Remedy-Kayne Anderson duo, as the joint venture’s purchasing history dates back to early 2022. In February, the partnership, alongside MedProperties Realty Advisors, formed a $350 million-plus joint venture to recapitalize a 23-asset health-care real estate portfolio totaling more than 1 million square feet.

Later that year, the companies added eight medical office buildings to their joint investments. The properties, located in Florida, Texas, North Carolina and Tennessee, changed hands for $91 million.

The post Remedy, Kayne Anderson Buy $131M MOB Portfolio appeared first on Commercial Property Executive.

 Investment, Medical Office, National, News, JLL, Kayne Anderson Real Estate Advisors, Montecito Medical, Remedy Medical Properties 

ground lease, ground leases, net lease, 101, ground lease nyc, properties, properties nyc, Robert Khodadadian, investment sales, broker, commercial real estate, properties, commercial real estate, NYC real estate, ground lease, Skyline Properties, Skyline NYC, NYC, New York City Real Estate, ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties, NYC Real Estate, Real estate investment, commercial real estate, robert khodadadian, properties, ground lease, net lease, investment sales, brokerage, manhattan real estate, broker, daniel shirazi, Off-market real estate

.com/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u204a572ca5d004160870cf801ad65e78:hover .ctaButton { background-color: #141414!important; } .u204a572ca5d004160870cf801ad65e78 .centered-text { display: table; height: 80px; padding-left: 18px; top: 0; } .u204a572ca5d004160870cf801ad65e78 .u204a572ca5d004160870cf801ad65e78-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u204a572ca5d004160870cf801ad65e78:after { content: ""; display: block; clear: both; }
See also  Report: San Diego Retail Market Posts Strong Third Quarter on October 24, 2022 at 6:11 pm Connect CRE – Robert Khodadadian

Leave a Reply

Your email address will not be published. Required fields are marked *