Transactions: More HRE Transactions

  • Crossroads Development Partners LLC of Schaumburg, Ill., recently led a venture to acquire a two-building, 53,000 square foot, Class B MOB asset in Hoffman Estates, Ill., for $1.2 million, or about $23 PSF. The Medcoa Professional Complex at 990 to 1000 Grand Canyon Parkway was acquired from an affiliate of Boston-based Admirals Bank, which took over ownership in 2012 through a deed in lieu of foreclosure. The complex is about 45 percent occupied, according to Crossroads Principal Lee Kotler. Mr. Kotler added in a statement, “It’s a very well-located medical office building that just needs a little tender loving care.”

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