After a $56M purchase in early 2022, the firm has big plans to build its HRE portfolio
By John B. Mugford
Wentworth Healthcare Properties acquired a five-building, 182,388 s.f. MOB portfolio for $56 million in early 2022. (Photo courtesy of Wentworth)
Perhaps the first introduction that readers of HREI™ had with Phoenix-based Wentworth Healthcare Properties came in early 2022, when we reported that the firm had acquired a five-building, 182,388 square foot medical office building (MOB) portfolio for $56 million.
With four of the buildings in Greater Phoenix and the other in Littleton, Colo., outside of Denver, the price for the 82 percent occupied (at the time) portfolio was about $311 per square foot (PSF), according to information from healthcare real estate (HRE) data firm Revista.
Wentworth Healthcare Properties, which is a division of Phoenix-based Wentworth Property Company, a commercial real estate development, acquisitions and management firm founded in 2005, made the acquisition in a partnership with Chevy Chase, Md.-based Artemis Real Estate Partners.
Wentworth acquired the properties in four separate deals from partnerships including Littleton, Colo.-based Centum Health Properties, an HRE firm.
“There is a significant value-add component to this portfolio, with the ability for lease-up of the … Arizona buildings,” said Jack Wentworth, senior associate with Wentworth, adding in a news release that the firm was attracted to the portfolio because of the “high-growth locations, with growing tenant demand.”
Jason Meszaros
“Wentworth Healthcare Properties (in a programmatic JV) is aggressively seeking acquisition opportunities in core-plus medical office, value-add and development properties in the western region of the U.S.,” Jason Meszaros, managing director of Wentworth Healthcare Properties, said in a news release at the time of the transaction’s announcement.
To find out more about the firm and what its plans are – which are pretty big indeed – HREI spoke with to Mr. Meszaros, a longtime commercial real estate (CRE) veteran who joined Wentworth in late 2019 to lead the healthcare effort.
Mr. Meszaros got his start in CRE in 1996 with Phoenix-based Hewson Development Corp. and over the years has gravitated toward HRE while working with Opus West Corp. and the Phoenix office of Milwaukee-based Irgens, a development and CRE firm with a strong HRE division.
“Our portfolio of healthcare properties is now at
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