CBRE brokered sale of a Bon Secours portfolio in Greater Richmond, Va.
By John B. Mugford
The largest asset AW Property Co. acquired from Healthcare Realty Trust as part of the six-asset Bon Secours portfolio was this seven-story, 142,015 s.f., “Class A” medical outpatient building on the St. Mary’s Hospital campus in Richmond, Va. (Photo courtesy of CBRE)
In remaining true to its strategy of being “patient and disciplined” when it comes to making acquisitions, North Palm Beach, Fla.-based AW Property Company, a longtime healthcare real estate (HRE) firm focused on medical outpatient buildings (MOBs), closed on its first acquisition of the year on Nov. 19.
The purchase was certainly a significant one, as the firm acquired the six-MOB, 405,945 square foot Bon Secours Medical Campus Collection in Greater Richmond, Va.
Although neither AW Property Co. nor the broker on the deal, the U.S. Healthcare Capital Markets team with CBRE Group Inc. (NYSE: CBRE), disclosed the price or the seller, an Oct. 30 news release highlighting its third quarter (Q3) and October activity indicates that Nashville, Tenn.-based Healthcare Realty Trust Inc. (NYSE: HR) sold the portfolio.
In the news release, HR said that it was “under contract to sell its six fully leased MOBs in the Richmond (Va.) MSA (metropolitan statistical area) for $171 million, harvesting full value at attractive market pricing. The sale would represent a full exit from Richmond.”
The $171 million sale price
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
