HFF says it has closed the $17 million sale of two MOBs totaling 86,000 square feet and anchored by Thomas Jefferson University Hospital in Philadelphia. (Rendering courtesy of HFF)
PHILADELPHIA, PA – February 21, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $17 million sale of two medical office buildings totaling 86,000 square feet and anchored by Thomas Jefferson University Hospital (Moody’s, A2) in Philadelphia, Pennsylvania.
HFF marketed the properties on behalf of an affiliate of George Comfort & Sons, Inc. Harrison Street Real Estate Capital LLC purchased the assets.
The properties, located at 8001 and 8040 Roosevelt Boulevard in Philadelphia, have undergone near complete renovations in the last 24 months and are 94.7 percent leased and anchored by Thomas Jefferson University Hospital. Services offered at the facilities include urgent care, the heart institute (and recent additional expansion space), vascular surgery, oral surgery, family practice, imaging, podiatry, dental, hematology oncology, periodontics and prosthetics and dermatology. The properties are located in the far northeast submarket of Philadelphia, along U.S. Route 1 just off of Trinity Health’s 231-bed Nazareth Hospital campus. This location is within one mile of nearly 1,500 senior housing and age-restricted units.
The HFF investment sales team representing the seller was led by director Ben Appel, managing directors Philip Mahler and Evan Kovac and senior managing director Eric Anton.
“The purchase of these assets is a testament to the strength of Philadelphia’s healthcare market, the quality of the Jefferson Health System and the first class medical office building George Comfort & Sons renovated,” Appel said.
About George Comfort & Sons, Inc.
George Comfort & Sons, Inc. is one of New York’s oldest and most reputable real estate firms. The company currently manages in excess of 12 million square feet of commercial property, seventy percent of which it has ownership interests in. www.gcomfort.com
About Harrison Street Real Estate Capital LLC
Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment products across multiple risk/return platforms. Headquartered in Chicago, the firm employs a 90+ person team with approximately $12.2 billion in assets under management. For more information, please visit www.harrisonst.com.
About HFF
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
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CONTACTS:
BEN APPEL
HFF Director
(484) 532-4200
bappel@hfflp.com
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com
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