The St. Luke’s campus in Duluth (Photo courtesy of St. Luke’s)
DULUTH, MN — Investors Real Estate Trust (NYSE: IRET), which has been gradually exiting the healthcare real estate space, announced in January that it had sold 27 of its 28 remaining MOBs. Now, citing newly filed property records, local news media reports that two of the assets are MOBs affiliated with St. Luke’s, a Duluth-area health system. The Duluth News Tribune reported yesterday (Feb. 21) that the St. Luke’s Lakeview Building at 1001 E. Superior St. sold for $22.1 million and 4702 Grand Ave., which includes the St. Luke’s Denfeld Medical Clinic, sold for $4 million. The buyer was identified as HSRE-MN, presumably an affiliate of Chicago-based private equity investor Harrison Street Real Estate, which was previous named as the buyer of 25 of the other MOBs.
For the original Duluth News Tribune article, please click here.
For previous HREI coverage of the IRET portfolio sale, please click here.
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