MISHAWAKA, IN—A portfolio of medical office buildings hittingthe market in Indiana, just outside of Chicago, could result in oneof the most “significant” MOB portfolio transactions to occur inthe Midwest in “quite some time.”
According to Erik Foster and MikeWilson of the Chicago office of Toronto-basedAvison Young, interest is strong from a variety ofinvestor types, including national and international capitalsources.
Perhaps the main reason for the strong interest, they say, isthat Franciscan Alliance, a 13-hospital healthsystem with a AA credit rating from Standard & Poor's, occupiesabout 90 percent of the space. Other independent physicians andgroups occupy space as well, giving the portfolio a total occupancyof about 93 percent.
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