Industry Pulse: ‘Hot Pockets’ Inventors Show Appetite for MOBs

A company with ties to the family that created Hot Pockets has gobbled up a six-building MOB portfolio near Las Vegas Photo courtesy of Nestle SA

A company with ties to the family that created Hot Pockets has gobbled up a six-building MOB portfolio near Las Vegas
Photo courtesy of Nestle SA

Investor with ties to Hot Pockets hungers for core-plus, value-add and opportunistic deals

Hot Pockets are not exactly the healthiest packaged food on the market. In fact, comedian Jim Gaffigan practically built his career on a hilarious routine lampooning the fat-filled frozen sandwiches.
So it is ironic – or perhaps a clever bit of vertical integration – that members of the family that invented the salt- and fat-filled microwave meal are investing in healthcare real estate (HRE).
Hot Pockets were invented by brothers Paul and David Merage in the 1970s. The family sold its company, Chef America Inc., to Nestlé in 2002 for a meaty $2.6 billion. Members of the Merage family now run a firm that invests in, among other types of properties, medical office buildings (MOBs).

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