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Transactions: Patience pays off for Anchor in its most-recent MOB purchase

Firm acquires a fully occupied, 129,000 s.f. MOB in Las Vegas; total investment will be $45M

By John B. Mugford

Anchor acquired the four-story, 129,000 square foot Parkway MOB at 7455 W. Washington Ave. in Summerlin, Nev. (Photo courtesy of Anchor)

It looks as if patience is not only a virtue in life but also in the highly competitive medical office building (MOB) acquisitions arena as well.

On the surface, Media, Pa.-based Anchor Health Properties’ recent purchase of a four-story, 129,000 square foot MOB in the Summerlin master-planned community of Las Vegas might look like just another off-market deal.

However, the behind-the-scenes story shows that James A. Schmid, Anchor’s chief investment officer and managing partner, had pursued the purchase of the Parkway MOB at 7455 West Washington Ave. for more than six years, starting when he was serving as the senior VP and managing director of healthcare investments with Orlando, Fla.-based CNL Healthcare Properties from 2010 to early 2016.

After Mr. Schmid joined Anchor in April 2016, he and the acquisitions team continued pursuing the property by maintaining a relationship with the owner and eventual seller, Las Vegas-based Stable Development and its CEO, Lance Bradford.

Although the purchase price was not disclosed, Mr. Schmid tells HREI that

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