Just Closed: The Oregon Clinic Gateway Medical Office Building
The 101,142 square foot Oregon Clinic Gateway Medical Office Building in Portland, Ore. (Photo courtesy of CBRE)
The CBRE U.S. Healthcare Capital Markets Group acted as the exclusive advisor for the sale of The Oregon Clinic Gateway Medical Office Building in Portland, Oregon.
| Sale Date: | August 3, 2017 |
| Property Size: | 101,142 SF |
| Occupancy: | 100% |
The CBRE U.S. Healthcare Capital Markets Group is pleased to announce the sale of The Oregon Clinic Gateway Medical Office Building (the “Property”). Chris Bodnar and Lee Asher of the CBRE U.S. Healthcare Capital Markets Group partnered with Jan Bottcher in the Oregon market to act as the Seller’s exclusive advisors.
The Property was constructed in 2006 with LEED Gold certification and totals 101,142 square feet of rentable square feet. The facility is 100% leased and predominantly occupied by The Oregon Clinic, a leading physician group that provides 34 different specialty services, and Providence St. Joseph Health (“PSJH”), a 50 hospital health system that was recently formed by the merging of Providence Health & Services and St. Joseph Health.
The Property was a build-to-suit for The Oregon Clinic (TOC), which has leased approximately 65.4% of the facility through 2028. PSJH leases 33.5% of the facility for its cardiology heart clinic, physical therapy and lab services with leases going through 2022 and 2026. PSJH currently maintains an ‘Aa3’ investment grade credit rating by Moody’s as of October 2016, and both Fitch Ratings and Standard & Poor’s assigned an ‘AA-’ investment grade credit rating to the health system’s latest bond offering in September 2016.
For more information on this sale, or if we can help with your healthcare real estate holdings, please contact us.
| CONTACT US |
| U.S. HEALTHCARE CAPITAL MARKETS GROUP | ||
| CHRIS BODNAR Executive Vice President Investment Properties +1 303 628 1711 chris.bodnar@cbre.com |
LEE ASHER Executive Vice President Investment Properties +1 404 504 5965 lee.asher@cbre.com |
GREG GREENE Senior Vice President Debt & Structured Finance +1 214 979 5617 greg.greene@cbre.com |
| RYAN LINDSLEY Senior Director Investment Properties +1 303 628 1745 ryan.lindsley@cbre.com |
SABRINA SOLOMIANY Director Investment Properties +1 405 536 5054 sabrina.solomiany@cbre.com |
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