The facility, which is the headquarters for 10 additional clinics, is conveniently located at the entrance of the main campus of St. Vincent/Ascension Hospital in Indianapolis
INDIANAPOLIS and DALLAS, July 25, 2019 – A joint venture between Caddis® and a client of Invesco Real Estate, a global real estate investment manager, has acquired the 41,205 square foot Hand to Shoulder Center in Indianapolis.
The single-tenant medical office building (MOB) and ambulatory surgery center at 8501 Harcourt Road is the headquarters for 10 additional Hand to Shoulder locations throughout the Indianapolis area. Hand to Shoulder physicians, staff and services will continue to occupy the building.
Jason L. Signor, CEO of the Dallas-based national healthcare real estate firm, notes, “We’re pleased to acquire the Indiana Hand to Shoulder Center, which has an excellent reputation as a leader and innovator in the prevention and treatment of upper extremity disorders and injuries. The Center is also well known for its advanced teaching programs for orthopedic surgeons.”
Chris Morgan, Caddis Manager of Acquisitions, added, “Since its founding in 1971, the Center has grown and succeeded and now serves more than 50,000 patients annually. It is also ideally located at the entrance of the main campus of St. Vincent/Ascension Hospital. This was a very attractive opportunity for Caddis and our joint venture partnership.”
BMO Harris Bank’s Healthcare Real Estate Finance group provided financing for the project.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $68.9 billion in real estate assets under management, 508 employees and 21 regional offices across the U.S., Europe and Asia (as of 03/31/19). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
Caddis® is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired nearly five million square feet of medical assets valued in excess of
$1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 5th largest healthcare development company in the United States. For more information about Caddis, please visit www.Caddis.com.
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