BIRMINGHAM, Ala. – Baptist Health System (BHS) has engaged a New York investment bank to assist in the sale of seven medical office buildings (MOBs) totaling 480,690 rentable square feet. Three of the MOBs are on the not-for-profit system’s flagship Princeton campus, two are on its Montclair campus and two are off-campus, according to Philip “P.J.” Camp of Shattuck Hammond Partners LLC, which is handling the sale. The MOBs are about 89 percent occupied, with BHS planning to lease about 143,000 square feet after the sale. An offering memoranda was to be circulated to prospective buyers by the end of May. There is also an opportunity to develop a new clinic of about 70,000 square feet on the Princeton campus as a joint venture with physicians, Mr. Camp says. BHS, Alabama’s largest health system, also announced April 12 that it plans to partner with 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
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