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News Release: IRA Capital Acquires 22,000 SF Medical Office Building Leased To Cleveland Clinic

April 20, 2020:

IRA Capital “IRA” is pleased to announce the acquisition of a medical office building in Dover, OH that is 100% leased to Cleveland Clinic Union Hospital.  The 22,000 sq. ft. building was built for Union Hospital in 2016 as an off-campus urgent care facility located approximately 3 miles from Union Hospital.  Union Hospital, which was acquired by Cleveland Clinic Health System, is the largest acute-care facility in Dover with 154 inpatient beds in medical, surgical, pediatrics, maternity, critical care, and inpatient rehab.   The hospital employs over 1,000 people with a medical staff of 185 physicians.  In 2018, Union Hospital became a full member of the Cleveland Clinic Health System.  Cleveland Clinic Health System currently operates 11 regional hospitals across Ohio and is consistently ranked one of the top health care providers in the U.S.  According to IRA partner Samir Patel, the long term lease with Cleveland Clinic Health System fits nicely with IRA’s strategic vision of aligning itself with top-tier health systems throughout the country.

About IRA Capital

IRA Capital “IRA” is a private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices, and individuals.  IRA invests in commercial real estate assets throughout the United States, with a primary focus on the medical/healthcare real estate sector.  Headquartered in Irvine California, IRA has acquired over six million square feet of property across 25 states, valued in excess of $2 Billion.

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