FOR IMMEDIATE RELEASE
43,282 square-foot single-tenant facility further expands portfolio
Minneapolis, Minn. – December 15, 2021 – MedCraft Investment Partners, a dedicated investment platform focused exclusively on healthcare real estate, acquired the single tenant medical office building, Community Health Pavilion Speedway, located at 1011 N Main Street in Speedway, Indiana, a growing suburb of Indianapolis.
The Community Health Pavilion is strategically located within 4 miles of 3 major hospitals including a Level 1 trauma center and is 100% leased to Community Health Network. Ranked among the nation’s most integrated healthcare systems, Community Health Network is Central Indiana’s leader in providing exceptional healthcare services with more than 200 sites of care and affiliates throughout Central Indiana. Healthcare services provided at the Community Health Pavilion Speedway include primary care, urgent care, imaging, lab, physical therapy and rehab, and a community room.
“We are extremely excited to be partnering with an integrated health system as strong as Community Health.” stated Jon Stecher, Principal, MedCraft Investment Partners, “They are exactly the type of organization our firm is configured to support and we look forward to assisting them in their pursuit to provide convenient and exceptional healthcare services in Speedway.”
The City of Speedway, just west of Indianapolis, is a growing community and known for being the home to the Indianapolis Motor Speedway and hosting the Indy 500 race, attracting over 300,000 racing fans during the Memorial Day weekend. The Indianapolis Motor Speedway also hosts many other races and events including NASCAR and the Verizon IndyCar, bringing vibrance and growth to the area.
Cushman & Wakefield Healthcare Capital Markets team Gino Lollio and Travis Ives brokered the transaction that closed on December 2, 2021 with an acquisition price of $10,501,000.
About MedCraft Investment Partners, LLC
MedCraft Investment Partners (MIP) is a unique investment platform built on integrity and decades of proven healthcare real estate expertise with customized client-driven solutions in developing, acquiring, and managing health care facilities. We help identify, plan, and structure partnerships that result in greater economic value – while guiding against missteps that are commonly encountered along the way. For more information, please visit www.MedCraftIP.com.
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Media contact:
Jolene Ludvigsen
jludvigsen@medcraft.com
952.838.7126
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