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Transactions: A big purchase, a big sale in Southern California for Meridian

In Beverly Hills, firm/JV partner pay $81.5M for MOB; in Santa Ana, firm sells MOB for $29.9M

By John B. Mugford

Meridian and its JV partner, reportedly Morgan Stanley, acquired the three-story, 67,510 square foot, Class A Beverly Hills Medical Plaza for $81.5 million. (Photo courtesy of Meridian)

Early October has been a busy time for Walnut Creek-based Meridian, which is well known in the healthcare real estate (HRE) sector for adding value to medical office buildings (MOBs) it acquires.

In separate transactions in Southern California, the firm, which also develops ground-up HRE projects and has converted other facility types to healthcare, recently made one big acquisition in Beverly Hills and one significant sale in Santa Ana, part of Orange County.

In Beverly Hills, Calif., the firm and a joint venture partner acquired the 67,510 square foot Beverly Hills Medical Plaza, a three-story “Class A” MOB at 150 N. Robertson Blvd. in a renowned retail corridor of the affluent Los Angeles suburb.

The price for the off-market transaction was

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