(Chicago, IL — June 29, 2022) — Representing the inaugural investment in a new Midwestern target market for the firm, Anchor Health Properties (Anchor), a national, full service healthcare real estate development, management, and investment company focused exclusively on healthcare facilities, recently closed on a two story, 16,737 square foot Class A outpatient medical office building in the highly desirable Chicago submarket of Deerfield, Illinois. The asset at 350 S Waukegan Road was acquired via a joint venture with institutional equity partner Harrison Street, a leading investment management firm exclusively focused on alternative real assets.
Originally constructed in 2013 and currently positioned as one of the top medical office buildings in the area, the facility is 100% occupied by Northwestern Medicine (Fitch’s AA+), a leading regional not for profit health system featuring eleven hospitals and more than 4,400 affiliated physicians. With strategic proximity to Northwestern Lake Forest Hospital, a 122 bed community hospital, and Evanston Hospital, a 354 bed teaching hospital, the asset serves as the health system’s multispecialty hub in the Deerfield submarket offering primary and specialty care services, including internal medicine, endocrinology, geriatrics, and urgent care.
“Our investment in this best in class MOB marks a significant milestone for our owned and managed portfolio as we continue to expand our presence in key, dynamic Midwestern markets and enter one of the top five largest US markets,” shared James Schmid, Chief Investment Officer and Managing Partner with Anchor. “Dedicated to pursuing better healthcare through real estate solutions, we are excited about the additional opportunities in the greater Chicago MSA as we help local health systems and physicians make the most of their facilities. The single-tenant NNN medical office transaction demonstrates the superior market fundamentals of the healthcare real estate sector and we are looking forward to strengthening our relationship with Northwestern Medicine in the area.”
Leading the acquisition process, Ilya Hvostikov, Vice President of Investments with Anchor added, “The Northwestern Medicine Deerfield MOB is a top tier addition to our growing medical office portfolio of prominent facilities occupied by credit rated healthcare systems. We are optimistic in our ability to continue to identify compelling investment opportunities with Northwestern Medicine as we support the health system’s operations and delivery of high quality healthcare services to the surrounding community.”
Capital One provided debt financing services. As the new owner of the facility, Anchor Health Properties will provide go forward management services at this location.
About Anchor Health Properties
Anchor Health Properties is a national, full-service healthcare real estate development, management, and investment firm serving investors and health systems. Leveraging our collective experience and resources, our nimble, and thoughtful team of professionals develop and deliver tailored, client-specific solutions to respond to today’s healthcare challenges – thinking outside the “medical office box.” With more than $1.5B of completed development projects, more than 8M square feet under management, and nearly $3B invested in stabilized healthcare facilities, Anchor continues to create a better healthcare experience for patients and a competitive edge for our clients. Anchor maintains multiple offices nationwide and features more than 100 professionals in its ranks. Healthcare today calls not only for new and more efficient ways of delivering healthcare services, but also a different kind of healthcare real estate company. For more information, please visit: www.anchorhealthproperties.com.
About Harrison Street
Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in San Francisco, London, Toronto and Washington DC the firm has more than 200-employees and approximately $46 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street was awarded Best Places to Work by Pensions & Investments for seven consecutive years (2014-2020) and was recognized by PERE as the 2021 Alternatives Investor of the Year, North America and 2020 Global Alternatives Investor of the Year. For more information, please visit http://www.harrisonst.com
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