CHICAGO—Avison Young just helped complete thesale a five-building, 165,000-square-foot medical office buildingportfolio in Northwest Indiana to New York-based ARCHealthcare Trust II. It was the largest medical officeportfolio sale in the Midwest this year, based on the squarefootage, Avison officials say. Based on the $46 million price, itwas also one of the top five medical office portfolio sales in theMidwest during the past five years.
Avison's capital markets team in Chicago, led by ErikFoster and Mike Wilson, handled thetransaction. The Avison team also included principal PhilPalmer and debt specialist senior vice presidentDavid Krasnoff. The properties are in Munster,Schererville and Dyer. The seller was Family Care Centersof Indiana, a physicians group.
The Affordable Care Act has already begunchanging how healthcare providers serve patients, with many puttingmore emphasis on smaller, easy-to-access specialized facilities,and this set of properties fit the bill and attracted a lot ofinterest from investors.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
