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Transactions: Norvin Properties buys MOB in Sugar Land, Texas, near a CHI St. Luke’s hospital

SUGAR LAND, Texas – New Yorkbased Norvin Properties, which has a portfolio of more than 1 million square feet of healthcare facilities, recently acquired an MOB in Sugar Land, in the suburbs southwest of Houston.

According to RCA, Norvin acquired the 79,629 square foot Sugar Land Medical Pavilion at 14815 Southwest Freeway for an undisclosed price. The MOB is just a mile from CHI St. Luke’s Health Sugar Land Hospital.

The seller was Santa Ana, Calif.-based Triple Net Properties, also known as Daymark Realty Advisors, according to RCA data. Brokering the sale was JLL.

Triple Net acquired the MOB in 2007 on behalf of tenant-in common investors for $15 million.

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