Multiple medical office buildings that changed hands in the third quarter of 2019 house surgery centers or physician practices, according to Hammond Hanlon Camp's Medical Office Building Quarterly Update.
Nine notable transactions:
1. H2C facilitated the sale of a three-building MOB portfolio for $12.2 million. The 36,563-square-foot portfolio was anchored by Pioneer Spine and Sports Physicians, a practice with offices throughout western Massachusetts.
2. American Healthcare Investors purchased One Park Way in Haverhill, Mass., for $15.5 million. The MOB is leased to six tenants and anchored by the greater Boston area's Partners Community Physicians Organization.
3. Nazareth Enterprises acquired Sacramento Heart Medical Building, which is anchored by a seven-physician Northern California cardiology practice and University of California Davis in Sacramento. The MOB sold for $16.7 million.
4. Healthcare Trust of America acquired two neighboring MOBs in Meridian, Idaho, for $11 million. Intermountain Eye Clinic is one of the tenants.
5. Southwest Region MB Real Estate acquired neighboring MOBs in Colorado Springs, Colo., for $12.1 million. The two buildings feature an orthopedic surgery center providing joint replacement procedures.
6. Healthcare Realty Trust purchased the 29,903-square-foot Town Center Medical in Sugar Land, Texas, for an undisclosed price. The fully occupied property is anchored by Houston ENT and Allergy.
7. Harrison Street Real Estate Capital paid $29.4 million to acquire an Eagan, Minn., property leased to Summit Orthopedics, a 50-physician orthopedic practice with 26 clinic locations in Minnesota and Wisconsin. The MOB features a full-floor surgery center.
8. Montecito Medical closed on a sale/leaseback with OrthoVirginia for its location in Lynchburg, Va. The $29 million purchase was Montecito's fourth acquisition of OrthoVirginia-leased properties.
9. PrimeMed Realty acquired a 33,433-square-foot MOB in Lake Worth, Fla., that is fully leased to five tenants, including a subsidiary of Brentwood, Tenn.-based Surgery Partners. PrimeMed paid $12.6 million.