Investor pays about $60M for two-building complex occupied by Froedtert
By John B. Mugford
MENOMONEE FALLS, Wis. – Irvine, Calif.-based IRA Capital, a private real estate investor making quite a splash in medical office building (MOB) acquisitions in recent years, has made a significant purchase in Menomonee Falls, a suburb of Milwaukee.
In an exclusive interview, Amer F. Kasm, one of five principals and a co-founder of the firm, tells HREI that IRA recently paid just under $60 million for the 118,000 square foot North Hills Health Center at W129 N7055 Northfield Drive. The two-building complex is fully occupied by Froedtert Health, a five-hospital system and the primary teaching affiliate of the Medical College of Wisconsin.
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