News Release: Heitman Acquires Premier Multistate, 1.4 million SF PHT Medical Office Portfolio

The Princeton Medical Arts Pavilion in Plainsboro, N.J. (Photo courtesy of JLL)

Chicago, February 16, 2018 – Heitman LLC, a global real estate investment management firm, today announced the acquisition of a 1.4 million square foot medical office portfolio comprised of 17 buildings in seven states on behalf of an affiliate of Heitman. Denver-based NexCore Group advised Heitman during the acquisition and will provide operating and property management services for the portfolio under a long-term contract.

The PHT Medical Office Portfolio consists of seven Class-A medical office buildings (MOBs) in Texas and five in Indiana, with the remaining assets located in Illinois, Missouri, New Jersey, North Carolina and Virginia.

The portfolio is comprised of properties located in sought-after, high-population-growth markets. The majority of the properties were built after 2005 and are affiliated with highly-rated, market-leading, and academic health systems.

Commented Brian Pieracci, Heitman Managing Director: “We are pleased to continue our productive partnership with NexCore. The PHT Portfolio is a high-quality, well-diversified portfolio of premier properties with near-100 percent occupancy and a collective tenancy of highly-rated, market-leading health systems. The Class-A portfolio exhibits nearly all of the qualities that we look for when acquiring core medical office properties for our portfolio.

Commented Ed Christen, NexCore Group Managing Partner and Chief Investment Officer: “NexCore is excited to have worked with Heitman in the acquisition of this landmark medical office portfolio. Our extensive experience in managing physician office space and comprehensive approach to medical asset ownership will enhance the already excellent delivery of healthcare from the MOBs within this portfolio.”

About Heitman

Founded in 1966, Heitman LLC is a global real estate investment management firm with approximately $39 billion in assets under management.  Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies.   Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. Headquartered in Chicago, with offices in Los Angeles, London, Luxembourg, Frankfurt, Munich, Warsaw, Hong Kong, Seoul, Tokyo, and Melbourne, Heitman’s more than 325 employees offer specialized expertise – from a specific discipline to local insight.

About NexCore Group LLC

NexCore Group develops healthcare facilities for hospitals, health systems and physicians. We solve complex real estate challenges through innovative building solutions and creative financial structures. In a rapidly changing healthcare industry, NexCore has the superior expertise to deliver quality environments and flexible spaces that help grow your business, lower expenses and mitigate risk. Over the past 25 years, NexCore has developed and acquired a total of 10.2 million square feet of health care facilities across the country. Our company has been recognized repeatedly as one of the Top Healthcare Real Estate Developers in the U.S. by Modern Healthcare magazine. NexCore is headquartered in Denver, Colorado, and as the company continues to grow so does its geographic reach. Over the last several years, NexCore has opened regional offices in Chicago; Bethesda, Md.; Portland, Ore.; Dallas; Orlando, Fla.; Laguna Niguel, Calif.; and Indianapolis. For more information, please visit www.nexcoregroup.com.

For further media inquiries:

Margot Olcay
E: molcay@rubenstein.com
T: +1 212 843-8284

###

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

Existing Users Log In