Firm acquired seven MOBs for $80.3 million in one of Q3’s largest transactions
By Murray W. Wolf
The three-story, 88,478 square foot Health Center at Virginia Beach at 828 Healthy Way in Virginia Beach, Va., sold for about $28 million, or about $316 PSF. (Photo contributed)
In a major Q3 deal that only recently came to light, Chicago-based MB Real Estate (MBRE) acquired a seven-building, 365,986 square foot medical office building (MOB) portfolio from Welltower Inc. (NYSE: HCN) for a total of $80.3 million.
In a Nov. 2 quarterly earning news release, the Toledo, Ohio-based real estate investment trust (REIT) disclosed the sale and said it “represents a 7.9 percent cap rate on in-place NOI (net operating income). We realized a slight loss on the sale of these non-core assets.”
Welltower offered no further details. But Healthcare Real Estate Insights™ has learned that
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