REIT pays $40 million for 8 floors of tower across from Northwestern Memorial
By John B. Mugford
Aside from Welltower Inc.’s (NYSE: WELL) $1.25 billion purchase of 55 medical office buildings (MOBs) from CNL Healthcare Properties on May 15, there has been a bit of a dearth of large healthcare real estate (HRE) deals in recent weeks.
But as part of our ongoing effort to monitor HRE sales, Healthcare Real Estate Insights™ recently spotted a recent acquisition by Scottsdale, Ariz.-based Healthcare Trust of America (NYSE: HTA) that certainly qualifies as a significant deal – and an interesting one to boot.
HTA recently closed on the $40 million purchase of an office condominium comprising the first eight floors of the 26-story Streeterville Center at 233 E. Erie St. in downtown Chicago, according to commercial real estate research firm Real Capital Analytics Inc. (RCA) and Arnold, Md.-based HRE data specialist Revista. The transaction closed June 6, according to Revista data. No broker information was disclosed.
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