May 14, 2020
Southern California-based IRA Capital (IRA) is pleased to announce the acquisition of Oviedo Crossing Medical Center, a 22,000 square foot medical office building located in the Orlando suburb of Oviedo. The 100% occupied multi-tenant property was built in 2004 and is anchored by Orlando Health, one of central Florida’s largest employers with more than 20,000 employees. Orlando Health sees more than 2.5 million patients a year throughout its network, and operates a multi-specialty clinic at the Oviedo Crossings property offering a mix of services including family medicine, orthopedics, pediatrics, podiatry and women’s health (OB/GYN). Other prominent tenants at the property include SimonMed Imaging, Florida Cardiology, Center for Digestive Health, Orthopedic Institute of Central Florida, and Ability Rehabilitation. The property is situated within one mile of the brand new AdventHealth Oviedo Emergency Room and within two miles of the Oviedo Medical Center, a 64-bed hospital opened in 2017. According to IRA partner Amer Kasm, the acquisition provided the opportunity for IRA to continue expanding its healthcare portfolio in Florida. IRA’s investment decision was based on several key factors including the property’s attractive location and its complimentary mix of strong healthcare providers, which creates an ideal referral network amongst the tenants and contributes to the long term viability and success of the asset.
About IRA Capital
IRA Capital “IRA” is a private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices, and individuals. IRA invests in commercial real estate assets throughout the United States, with a primary focus on the medical/healthcare real estate sector. Headquartered in Irvine California, IRA has acquired over six million square feet of property across 25 states, valued in excess of $2 Billion.
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