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Winner: Best Renovated / Repurposed: Meridian brings tired MOBs up to par

Firm anticipates that upgrades will boost occupancy to 95 percent from 70 percent

Meridian is on plan to increase occupancy at the Cotton Medical Center in Pasadena, Calif., to 95 percent from 70 percent at acquisition by offering attractive lease deals and generous tenant improvement allowances.

 

When Meridian acquired Cotton Medical Center’s two buildings, company executives knew they are extremely well-located but that the interiors and amenities were outdated and weren’t keeping pace with the marketplace.

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