The JLL Healthcare Capital Markets Group is pleased to announce a successful equity raise for a joint venture between Pappas Properties and Welltower, a leading global provider of health care infrastructure, for the development and ownership of two Class A medical office buildings totaling 281,148 rentable square feet under development in Charlotte, North Carolina. The properties are100%-master leased to Atrium Health for 15 years and will be delivered in Q2 and Q3 of 2020. The project is part of a multi-phase healthcare-anchored mixed use development on a 10-acre site in midtown Charlotte assembled by Pappas Properties, a highly reputable Southeast developer. The project site is conveniently situated next to Atrium Health’s flagship Carolinas Medical Center campus. Once completed, the properties will house the Sanger Heart and Vascular Institute and other integrated specialty clinical practices of Atrium Health.
Mindy Berman of the JLL Healthcare Capital Markets Group served as the developer’s exclusive advisor. Louis Stephens of JLL’s Charlotte office represented Pappas and secured and negotiated the lease with Atrium Health.
JLL Healthcare Capital Markets
JLL Healthcare Capital Markets is the only national full service healthcare capital markets team in the real estate industry focused on medical office, hospitals, seniors housing and post-acute care. The team consistently transacts over $1 billion annually with unrivaled expertise and experience in investment sales, monetization, development debt and equity capital raise and advisory services for investor and provider clients. JLL has an extensive national and international presence that delivers local market knowledge and exceptional access to capital.
For more information on this sale, or if we can help with your healthcare real estate needs, please contact us:
Mindy Berman
T + 617 316 6539
M +1 617 899 0657
mindy.berman@am.jll.com
Steve Leathers
T + 212 812 5867
M + 949 922 4195
steve.leathers@am.jll.com
Daniel Turley
T +1 214 438 6374
M +1 212 729 9327
daniel.turley@am.jll.com
Brian Bacharach
T +1 214 438 6462
M +1 214 476 3511
brian.bacharach@am.jll.com
Justin Hill
M +1 419 973 1854
justin.hill@am.jll.com
Brannan Knott
T + 617 316 6508
M + 443 983 6039
brannan.knott@am.jll.com
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