CROW UNIT AND INSTITUTIONAL PARTNER BUY BREMNER & WILEY ASSETS
By Murray W. Wolf
In a transaction valued at more than $80 million, a wholly-owned subsidiary of Trammell Crow Co. (NYSE: TCC) has teamed with an institutional partner to make its first acquisition: seven Indianapolis medical office buildings (MOBs) totaling 463,000 square feet.
PHT Investment Holdings LLC announced the deal April 19. The joint venture partners are Partners Health Trust (PHT), a Trammell Crow subsidiary, and what the announcement identified only as “a prominent state retirement system advised by Morgan Stanley Real Estate.” The seller was Indianapolis-based Bremner & Wiley Inc., which developed, owned and will continue to manage the MOBs.
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