The 103,175-square-foot, multi-tenant outpatient building is on the campus of Premier Health’s Level III trauma center in Middletown, Ohio
The Atrium Medical Center Medical Outpatient Building is a five-story, 103,175-square-foot medical office building located in Middletown, OH.
CHICAGO and MIDDLETOWN, OH, November 18, 2024 – Joint venture partners Remedy Medical Properties and Kayne Anderson Real Estate today announced the acquisition of the Atrium Medical Center Medical Outpatient Building.
The five-story, 103,175-square-foot medical office building (MOB), located at 200 Medical Center Dr. in Middletown, Ohio, was built in 2007 and is attached to and directly integrated with the Atrium Medical Center, a 328-bed hospital that serves as the only Level III Trauma Center, Primary Stroke Center and accredited Chest Pain Center in Warren County. It is 85% occupied, anchored by the medical center, which currently leases 70% of the building, as well as three other tenants: the Kidney & Hypertension Center, Hilltop OBGYN and Solaris Health.
“This was an attractive opportunity to secure a highly visible medical office building directly linked with the dominant acute care hospital in its region,” said Joe Magliochetti, chief investment officer for Remedy. “In addition, the acquisition allows us to further strengthen our existing relationship with Premier Health. The system occupies 170,100 square feet in six additional Remedy-owned buildings, including the award-winning freestanding emergency department we developed for them in Beavercreek, Ohio.”
Atrium Medical Center is a wholly owned subsidiary of Premier Health, the largest comprehensive health system in Southwest Ohio, offering five inpatient hospital campuses, an urgent care network, FSEDs and a large primary care network.
CBRE Group, Inc. (CBRE) served as the broker for the transaction.
About Remedy Medical Properties
Remedy Medical Properties is a full-service healthcare real estate company and the largest private owner of medical properties in the country, with over 33 million square feet and 25 offices spanning 44 states. For healthcare decision-makers wanting to maximize the value of their real estate while enhancing their ability to adapt, Remedy offers unmatched flexibility and resources in ownership, development, leasing, management, and strategy. Our willingness to commit capital, share more risk, and offer greater foresight increases your resilience, profitability, and peace of mind. For more information visit www.RemedyMed.com.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $16.8 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $36 billion alternative investment management firm with more than 40 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/. (As of September 30, 2024)
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Contacts:
Remedy Medical Properties: Tracy Hindman, EVP Brand & Marketing, 303-809-6395, thindman@remedymed.com
Kayne Anderson Real Estate: Jon Keehner / Erik Carlson, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449
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