Physicians Realty Trust pays $141 million for four MOBs in Greater Phoenix
By John B. Mugford
The 61,614 square foot Avondale IMS Medical Building, 10815 W. McDowell Road, in Avondale, Ariz., is one of four MOBs recently acquired by Physicians Realty Trust from Integrated Medical Services in a deal topping $140 million. (Photo courtesy of IMS)
At its outset in 2006, Phoenix-based Integrated Medical Services (IMS) came together as a handful of physicians with a goal of gaining more efficiencies and providing “high-quality, innovative healthcare.”
These days, IMS is more than 145 providers strong, a group practice offering primary care and almost every other medical specialty in the healthcare arena at locations throughout Greater Phoenix as well as a number of rural areas in Arizona.
Along the way, a number of physicians in the practice, led by CEO Dr. John Dover, a practicing radiation oncologist who represented the ownership group, developed and continued to own four medical office buildings (MOBs) heavily occupied by IMS providers as well as local hospitals and independent practices.
Shortly after IMS entered a strategic alliance with and sold a minority interest of the practice to San Francisco-based Dignity Health, which has four hospitals and numerous outpatient locations in Arizona, the owners of the MOBs have disposed of the four MOBs for a very handsome sum.
The buyer is
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