A healthcare portfolio that includes 475,000 square feet of real estate changed hands in a deal valued at $240 million, CoStar News reported Nov. 2.
Five insights:
1. The 11-property portfolio includes rehabilitation hospitals, surgery centers and medical office buildings in eight states: Texas, Indiana, Ohio, Pennsylvania, Maryland, Georgia, Iowa and Mississippi.
2. Alabama-based The Sanders Trust and Illinois-based Harrison Street were the joint-venture sellers for nine of the properties. The remaining two properties included in the deal — in Indiana and Pennsylvania — were owned solely by Harrison Street.
3. The buyer was an undisclosed public pension fund.
4. The Sanders Trust plans to use net proceeds from the deal to acquire existing healthcare facilities or develop new ones. The firm typically shops healthcare properties valued at $10 million or more.
5. The transaction reflects heightened investor interest in healthcare despite the pandemic.