More than $759.71 million changed hands in real estate transactions involving ASCs in October. Here are 10 October ASC real estate transactions:
- Private equity real estate firm Thomas Park acquired a medical office building with a surgery center in Edison, N.J., Colliers HealthCare, which represented the seller, said Oct. 27. The 30,000-square-foot building is partially leased by Edison-based Hackensack Meridian Medical Group and houses a surgery center and cardiology practice.
- Atlanta-based healthcare investment and management firm Evergreen Medical Properties, along with Boston-based Bain Capital Real Estate, bought a portfolio of 12 outpatient medical office buildings in Rhode Island and Massachusetts, the companies said in an Oct. 26 news release.
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- Boston-based Albany Road Real Estate Partners sold the portfolio to the Bain-Evergreen joint venture, according to the news release. Financial details were not disclosed.
- The 6,916-square-foot property housing Grove Place Surgery Center in Vero Beach, Fla., was sold for $3 million to private real estate investment firm Ironside Real Estate USA, Kite Team of Coldwell Banker Commercial, which represented the buyer and seller, said Oct. 23.
- A Washington, D.C.-based real estate investment company acquired 10 properties from the Department of Veterans Affairs, including ASCs, for $635.6 million through a joint venture, Easterly Government Properties said Oct. 13.
Three of the 10 acquisitions that focus on outpatient services:
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- VA Lubbock (Texas). The 120,916-leased-square-foot facility features an ASC.
- VA Columbus (Ga.). The 67,793-leased-square-foot facility is under development and will serve as an outpatient facility.
- VA Jacksonville (Fla.). The 193,110-leased-square-foot facility is under development and will include an outpatient facility.
- A Nashville, Tenn., medical office building housing an oral and facial surgery center sold for $8 million, according to an Oct. 21 report in the Nashville Post. Nashville-based Murphy Avenue General Partnership bought the property in Nashville's Midtown neighborhood from Newtown Square, Pa.-based GMH Communities approximately two weeks after GMH bought the building for $6.5 million from Jeffrey Carter, MD, DMD, an oral surgeon.
- Investment group NAI Partners sold a 14,398-square-foot building housing the Hill Country Memorial Surgery Center in Marble Falls, Texas, for $7 million, Ryan McCullough, the company's senior vice president, said Oct. 13.
- A 21,110-square-foot medical office building housing the Boca Raton Outpatient Surgery & Laser Center in Aventura, Fla., was sold for $16 million, South Florida Business Journal reported Oct. 13. Irvine, Calif.-based real estate investment firm IRA Companies purchased the office complex.
- EagleBridge Capital arranged $8.612 million in mortgage financing for the 72,050-square-foot building housing the Chelmsford (Mass.) Medical and Surgical Center and the West Suburban Eye Surgery Center, New England Real Estate Journal reported Oct. 8. The financing was arranged on behalf of the Vazza Real Estate Group.
- Real estate developer Meridian purchased a 67,510-square-foot medical office building with an on-site surgery center in Beverly Hills, Calif., for $81.5 million, the company announced Oct. 8.
- Boston-based Bain Capital Real Estate and Denver-based Evergreen Medical Properties acquired real estate in St. Louis featuring an ASC and an eye practice, the companies said Oct. 5. Financial details of the joint venture acquisition were not disclosed.
The acquisition also included a Providence, R.I., building housing Lifespan Physician Group, a multispecialty practice within the Lifespan Health System, Rhode Island's largest health system and private employer.