Transactions: The Broe Group buys troubled D.C.-area office, plans to convert it to MOB

ROCKVILLE, Md. – Denver-based the Broe Group recently paid $16 million for a 120,000 square foot general office building in Rockville, Md., that it intends to convert to an MOB.

The company has renamed the facility the Shady Grove Medical Pavilion, which is listed by RCA as a “troubled situation” property, as it has an occupancy of just 9 percent. RCA’s data says that the Broe Group acquired the property for renovation.

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