■ Jabbel Holdings LLC, which is affiliated with Lakeview Village Corp. of Garden Grove, Calif., has acquired the 46,286 square foot Harbor Shores Medical Center I at 3921 E. Baseline Road in Gilbert, Ariz., for $4.25 million. Eric Wichterman and Mike Coover of DTZ in Phoenix represented the seller. The buyer was self-represented. The property had been foreclosed on in August 2014, according to RCA. The Arizona Republic newspaper reported that the seller was an entity called LNR Property LLC, but RCA reports the seller as JER Partners. Founded in 1981 by the late Joseph E. Robert Jr., who died of brain cancer at age 59 in 2011, JER Partners is a McLean, Va.-based real estate investment management company that specializes in handling distressed properties. The firm is perhaps best known for partnering with Formation Capital LLC to privatize and later sell Genesis HealthCare Corp., an operator of senior living facilities. The partners sold Genesis’s portfolio of 147 properties in 11 states to Health Care REIT Inc. (NYSE: HCN) for $2.4 billion in April 2011.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
