MIDDLETOWN, OH- A new partnership of MedProperties Holdings LLC of Dallas and Equity Inc. of Columbus announced last week that they have purchased the Atrium Medical Center Medical Office Building in Middletown. MedProperties, a healthcare real estate private equity investment firm, and Equity, the commercial real estate firm that developed and manages the property, closed the transaction last month.
The five-story, 103,000-square-foot at 200 Medical Center Dr., sits inside the nine-building, 200-acre hospital campus of the Atrium Medical Center, which opened in 2007.
“This is our first transaction with Equity,” says MedProperties managing principal Darryl E. Freling. “We plan to expand upon our strategic relationship with Equity, and have identified additional investment opportunities through their sponsorship.”
“The Atrium investment was compelling to us as a result of its on-campus location, the strength of the hospital system, and the economic growth that is occurring between the cities of Dayton and Cincinnati where the project is located,” says MedProperties managing principal Roman J. Kupchynsky II. Furthermore, he adds, health care reform “is here to stay, so system plans for expansion that were previously on hold appear now to be moving forward. We believe this acquisition will benefit from this timing and momentum.”
Doctors and other medical personnel at the Atrium Medical Center MOB provide a number of hospital services, including cardiac rehabilitation. It houses the Wilbur & Mary Jean Cohen Women’s Center and physician education facilities. It also has physician offices, a retail pharmacy and hospital administrative offices. The 314-bed Atrium Medical Center hospital was a replacement for the Middletown Regional Hospital and draws patients from the entire region between Dayton and Cincinnati.