JLL’s Healthcare Capital Markets experts have completed the sale of a 143,499-square-foot Class A outpatient facility on the academic medical campus of Indiana University Health’s Methodist Hospital in downtown Indianapolis. It is the largest hospital complex in the state of Indiana with 1,411 staffed beds. Methodist Professional Center II (MPC II) is fully occupied by Indiana University Health and its affiliates. It features the campus’s outpatient ambulatory surgery center and cardiovascular specialists.
Healthcare Realty Trust, a New York Stock Exchange-listed REIT that focuses on owning, managing, acquiring and developing outpatient medical facilities throughout the United States with 14.9 million owned square feet, acquired Methodist Professional Center II. The seller was The Sanders Trust, headquartered in Birmingham, Alabama and a national leader in the development, acquisition and management of strategic healthcare properties.
The four-story property sits on 1.4 acres and was built in 1992. MPC II is integrally connected to the hospital facility and is a critical component of IU Health’s $1 billion project to consolidate clinical operations from University Hospital into the expanded, dynamic and growing facilities of Methodist Hospital and Riley Hospital for Children.
Mindy Berman and Justin Hill of JLL Healthcare Capital Markets served as advisors to the seller along with Bruce Gordon. JLL has sold more than 841,000 square feet of healthcare properties in Indiana.
JLL Healthcare Capital Markets is the only national full-service healthcare capital markets team in the real estate industry focused on medical office, hospitals, seniors housing and post-acute care. The team consistently transacts over $1 billion annually with unrivaled expertise and experience in investment sales, monetization, development debt and equity capital raise and advisory services for investor and provider clients.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,400 Capital Markets specialists completed nearly $180 billion in investment sale and debt and equity transactions globally.
For more capital markets content, visit The Investor, an online news source providing real-time commercial real estate news to asset buyers and sellers around the world. For more news, videos and research resources on JLL, please visit the firm’s U.S. newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Contact: Azar Boehm
Phone: +1 212 292 7587
Email: azar.boehm@am.jll.com
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
