FOR IMMEDIATE RELEASE
The strategically located Mississippi Valley Health Campus, situated on 12.54 acres in Davenport, is 92 percent leased to a diverse mix of 15 tenants with a weighted average lease term of more than 10 years
DAVENPORT, Iowa, and DALLAS, Jan. 26, 2022 – MedProperties Realty Advisors LLC today announced the acquisition of the three-building, 118,003 square foot Mississippi Valley Health Campus (MVHC) in Davenport, about 2.5 hours west of Chicago.
The Dallas-based healthcare real estate private equity firm acquired the medical office and surgical center campus from the physician owners for its MedProperties Fund III LP. The transaction closed Dec. 23.
MVHC is conveniently located near a major Interstate Highway 74 interchange on 12.54 acres at 3400, 3385 and 3365 Dexter Court in Davenport, Iowa’s third largest city and part of the Quad Cities area.
The founder and anchor tenant, Mississippi Valley Surgery Center, inked a long-term lease as part of the transaction, helping to ensure long-term stability for the asset.
MVHC is strategically positioned adjacent to the 139-bed UnityPoint Health – Trinity Bettendorf Hospital. Overall, the campus is 92 percent leased to 15 tenants with a weighted average lease term (WALT) of more than 10 years. The property benefits from occupancy by most major specialties, including ENT/otolaryngology, general surgery, gynecology, ophthalmology, oral surgery, orthopedics, pain management, plastic surgery, spine care and podiatry, creating a diversified tenant mix.
Debt for the acquisition was provided by Capital One National Association.
About MedProperties Realty Advisors
MedProperties Realty Advisors LLC is a Dallas-based healthcare real estate private equity firm that invests on a direct and an indirect basis (through joint venture relationships) in the development of new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant, specialty healthcare facilities throughout the U.S. MedProperties invests through its discretionary funds, and through stand-alone investment vehicles. MedProperties is dedicated solely to investments in healthcare real estate. For further information on MedProperties, please visit www.medpropertieslp.com.
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News Media Contact: Darryl E. Freling, Managing Principal, MedProperties Realty Advisors, 214.661.1000
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