The seller was not disclosed, but industry sources say it was Harrison Street
By John B. Mugford
In a significant deal that took place in recent weeks, Denver-based Healthpeak Properties Inc. (NYSE: PEAK) on April 30 acquired a 14-property, 833,000 square foot medical office building (MOB) portfolio for $371 million.
News of the purchase surfaced in the Q1 earnings report recently released by the publicly traded real estate investment trust (REIT) as well as during the REIT’s May 5 earnings call with securities analysts, during which officials discussed certain aspects of the acquisition.
In its Q1 earnings report, Healthpeak notes that the deal was an “off-market” one and that the facilities are all on hospital campuses or are in off-campus locations but affiliated with “investment grade health systems.” The MOBs, according to Healthpeak’s Q1 report, are heavily concentrated in the markets of Minneapolis, Chicago, Philadelphia, Washington, D.C., Los Angeles and Dallas.
The names of the systems affiliated with the portfolio also provide insight into the locations of the properties, as they include:
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