The Offering
The CBRE Healthcare Capital Markets Group is pleased to exclusively offer the Mission Medical Office Portfolio (“The Portfolio”) for purchase. The Portfolio consists of five medical office buildings on the St. Joseph Health Mission Hospital campus in the affluent community of Mission Viejo, California. The Portfolio totals 287,029 rentable square feet and is 100% master leased through August 31, 2019 by St. Joseph Health System which features an investment grade ‘A1’ rating by Moody’s and a ‘AA-’ rating by Fitch. Both rating agencies cite the health system’s strength with $5 billion in annual operating revenues and the recent consolidation of the cash-rich Hoag Memorial Hospital into the St. Joseph Health System. The mission critical real estate on the landlocked 552-bed hospital campus provides an incoming investor a unique opportunity to strike a new partnership with one of the most coveted hospital systems in Orange County.
Mission Medical Office Portfolio
- Addresses:
- 27800 Medical Center Road (Buildings 1, 2, and 3)
- 26730 Crown Valley Parkway (Mission Surgicenter, Building 4)
- 26732 Crown Valley Parkway (Medical Office Tower, Building 6)
- Portfolio Size: 287,029 RSF
- Number of Buildings: 5
- Master Leased %: 100%
- Master Lease Expiration: August 31, 2019
- NOI Beginning 8/2014: $8,713,918
- Annual Increases: CPI (3% floor, 8% ceiling)
Investment Highlights
- 100% Investment Grade Credit
- Rare Fee-Simple On-Campus Portfolio
- Highly Coveted Orange County Location
- Absolute NNN Master Lease
- Hoag Memorial Hospital Affiliation
- Positive Physician Employment Trends
- Delivered Free and Clear of Any Debt
Contact Information
CBRE U.S. Healthcare Capital Markets Group
- Chris Bodnar
Senior Vice President
CA Lic. 01892501
+1 303 628 1711
- Lee Asher
Senior Vice President
+1 404 504 5965
Local Market Specialists
- Craig Beam
CBRE Orange County Healthcare Services
CA Lic. 00641784
+1 949 725 8403
- Casey Immel
CBRE Orange County Healthcare Services
CA Lic. 01312850
+1 949 725 8511
- CBRE, Inc.
Brokerage Lic. 00409987
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
Comments are closed, but trackbacks and pingbacks are open.