JLL arranges sale of 10 MOBs in six states to Everest Healthcare Properties
BOSTON, August 23, 2018 – JLL’s Capital Markets, Healthcare experts have arranged the sale of a 10-building medical office portfolio on behalf of Jupiter, Florida-based developer Rendina Healthcare Real Estate. The buyer was Everest Healthcare Properties LLC, a healthcare real estate investment manager based in Scottsdale, Arizona.
Managing Directors Mindy Berman and Daniel Turley led the team handling the portfolio sale.
“This is a well-managed portfolio which attracted investors because of its scale, geographical diversity and high-quality assets. Eight of the 10 properties are on medical campuses aligned with market leading health systems,” said Berman.
The portfolio totals over 480,000 square feet and Rendina, which has developed more than 7.75 million square feet of healthcare real estate, had recently completed more than $5.5 million in improvements to the various assets. The portfolio is 83 percent leased and more than a third of the tenants are aligned with hospital systems. Rendina will continue to provide property management and leasing services following the acquisition.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
Contact: Scott Sutton
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