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News Release: 50/50 Joint Venture acquires on-campus MOB for $4.7 M in Taunton, Massachusetts

FOR IMMEDIATE RELEASE

Off-market transaction closed November 30 for a 100% leased on-campus medical office anchored by Steward Health Care.

Taunton, Massachusetts (November. 30, 2021) Elliot LaBreche, the founder of Vitalis, and David Hamilton, principal of PSRS, acquired a 18,000-sqaure-foot on campus medical office building located at 91 Washington Street in Taunton, Mass. LaBreche & Hamilton purchased the building for $4,700,000 or $261 per square-foot. The off-market transaction closed November 30th.

The two-story medical office building is fully occupied with 80% of the rent roll leased to the hospital system on a long-term triple-net basis. The healthcare services provided at this location are oncology and hematology, vascular care, bariatric care, sleep clinic, dermatology, and chiropractic care.

“The Liberty Medical building is a mission critical facility for the health system given its proximity to the Hospital and we plan to work closely with their administration to accommodate future growth” Said LaBreche.

Steward Health Care is the nation’s largest physician-owned and physician-led health care network. Morton Hospital in Taunton is a 112- bed acute care community hospital providing emergency care, wound care, state-of-the-art imaging services, and a variety of surgical services including vascular surgery, breast surgery, general surgery, orthopedic surgery, and podiatric surgery in southeastern Massachusetts.

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About Vitalis:
Elliot LaBreche is the founder of Vitalis, a vertically integrated real estate investment company focused on medical office and life science investment sales, acquisitions, and leasing across the US.

Media Contact: Abigail Kind, 802.881.9278

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