North Palm Beach, Florida, March 23, 2022 – AW Property Co., a real estate investment and operating company specializing in healthcare properties, announced the acquisition of Blue Ridge Medical Center I and II, a two building, 123,953 square foot medical office complex located in Raleigh, North Carolina.
The institutional grade asset is prominently located adjacent to the 665-bed UNC Rex Hospital, an affiliate of investment grade rated University of North Carolina Health (S&P AAA) and anchored by the health system. The asset was acquired for $29,000,000 in a partnership with Blue Ridge Realty, an established and well-known real estate operator in the Raleigh region. The partnership will invest significant capital to reposition the buildings as the best-in-class value in the submarket.
The acquisition was made through AW’s Medical Office Fund IV (“Fund IV”), a $300 million fully discretionary core-plus fund targeting medical office buildings in favorable markets across the Southeast United States. Fund IV has previously acquired 450,000 square feet
of medical office buildings in Tennessee and Virginia and is actively seeking additional investment opportunities.
About AW Property Co.
AW Property Co. is a fully integrated real estate investment company that specializes in acquiring and enhancing medical office properties in major markets throughout the Southeast. AW has a highly dedicated, customer-focused team of professionals with expertise in all facets of real estate acquisitions, redevelopment, finance, operations and asset management. AW’s headquarters are Palm Beach, Florida with regional offices throughout the Southeast. Please visit awproperty.com for more information.
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