Grand Rapids, Mich. — Maarten Deschaumes advised LaSalle Investment Management, a leading real estate investment management firm and independent subsidiary of Jones Lang LaSalle (NYSE: JLL), on the off-market acquisition of 1673 Gezon Parkway, Wyoming in the suburbs of Grand Rapids.
The newly constructed property is 100% leased to two leading specialty healthcare providers in the Grand Rapids MSA and is adjacent to the campus of University of Michigan Health-West. Services at this location include Mohs Surgery, Dermatopathology, Photodynamic Therapy, Orthodontics, Skin Cancer Treatment, and more.
“Gezon Parkway is a high quality, very stable asset with tremendous improvements which would be hard to replicate in today’s high construction cost environment,” said Maarten Deschaumes. “The property is home to well-known, accomplished physicians and is also a short walk to the University of Michigan Health-West campus.”
“This property is an excellent fit for our healthcare-focused office portfolio, which now totals 15 properties across geographically diverse markets, valued at greater than $520 million and accounts for approximately 8 percent of our total portfolio,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “We believe that within a broadly diversified real estate portfolio, the case for healthcare real estate is primarily driven by its diversification benefits, often longer term leases, lower capital expenditures, higher tenant retention, and reliability and durability of cash flows. Ultimately, we strive to deliver long-term, durable cashflow for our stockholders, and have conviction that medical office properties are a key ingredient to achieving this.”
About MH Deschaumes:
Maarten Deschaumes is a real estate investment advisor and capital markets professional focusing exclusively on alternative real assets including healthcare real estate. In this capacity, his responsibilities include the execution of investment advisory and joint venture transactions for institutional and private investors across the United States.
Deschaumes has closed transactions in California, Massachusetts, Rhode Island, New York, Pennsylvania, and Michigan and has deals under contract in the Southeast, Northeast and Tristate area set to close in Q4 of 2022. Year to date deal volume exceeds $200M. Maarten can be reached at maarten@lecadvisors.com.
About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $78 billion of assets in private and public real estate property and debt investments as of Q4 2021. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit http://www.lasalle.com.
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