JLL
Wisconsin MOB Portfolio
127,428 Rentable Square Feet
WISCONSIN MEDICAL OFFICE BUILDING PORTFOLIO
MILWAUKEE & GREEN BAY, WI
5 MOBS 1 127K SF | OCC | 5.4 WALT
INVESTMENT-GRADE HEALTH SYSTEM TENANCY, INCLUDING:
Children’s Wisconsin
Hospital Sisters
Ascension
Aurora Health Care
Executive Summary Confidentiality Agreement
The Offering
Jones Lang LaSalle, Inc. (“JLL”) Capital Markets, as exclusive advisor, is pleased to present to qualified investors the opportunity to acquire the Wisconsin MOB Portfolio (the “Portfolio”), a collection of five medical office buildings totaling over 127,000 square feet strategically concentrated in Milwaukee and Green Bay. At 95% occupancy, the Portfolio is primarily leased to leading investment grade hospitals with 81% of net operating income derived from Children’s Wisconsin (Moody’s: Aa3), Hospital Sisters Health System (Fitch: A+), Ascension (Moody’s Aa2), and Aurora Health Care (Moody’s: Aa3). Along with 100% triple net lease structures, the medical office properties offer an attractive basis just under $15 NOI per occupied square foot and are situated in excellent locations, boasting favorable demographics.
Children’s Wisconsin (“Children’s”), occupying all four Milwaukee properties, is one of the largest children’s hospitals in the country and anchors the Portfolio contributing to 47% of the Portfolio NOI. Children’s generated $1.2B in 2020 annual revenue while maintaining a dominant 90% market share in the greater Milwaukee market.
Portfolio By The Numbers
Number of Buildings: 5
Rentable Square Feet: 127,428
Ownership: 100% Fee Simple
Current Occupancy: 94.6%
NOI / Occupied SF: $14.74
WALT: 5.4 Years
NNN Leases: 100%
10-YR NOI CAGR: 3.6%
Investment Highlights
- Exceptional Rent Roll with 81% Investment Grade Tenancy, Consisting of Children’s Wisconsin, Hospital Sisters Health System, Ascension and Aurora Health Care
- Strong In-Place Cash Flow with 100% Triple Net Lease Structures and 5.4 Years of WALT
- Infill Milwaukee (4) and Green Bay (1) Locations with Highly Desirable Demographics
- Excellent Basis and Compelling Future Upside Potential with Just Under $15 NOI Per Occupied Square Foot
- Rare Core-Quality Portfolio Priced Significantly Below Replacement Cost
Sale & Debt Advisory Contacts
Evan Kovac
JLL
+1 206 576 0050
evan.kovac@am.jll.com
Mindy Berman
JLL
+1 617 316 6539
mindy.berman@am.jll.com
Matt DiCesare
JLL
+1 310 407 2149
matt.dicesare@am.jll.com
Timothy Joyce
JLL
(312) 528-3652
timothy.joyce@am.jll.com
Jaime Fink
JLL
+1 (312) 528-3687
jaime.fink@am.jll.com
IL 471010204 WI-54163-90
Trent Jemmett
JLL
+1 858 812 2363
trent.jemmett@am.jll.com
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