FREDERICK, MD—CNL Healthcare Properties, an Orlando, Fla.-based REIT, has carved out a nice presence for itself in this part of suburban Maryland, although you would not know it from its recent spate of acquisitions. At the end of July, however, it made another acquisition in the local market, signaling it still has appetite for these assets here.

It acquired two medical office buildings located at 194 and 45 Thomas Johnson Dr. in the so-called Doctor Row's part of Frederick.

The buildings, which total 82,348 square feet, are fully occupied are two-thirds leased to affiliates of Frederick Memorial and John Hopkins Hospitals. They traded for $24.25 million.

Local developer Ausherman Development Corp. was the seller. Avison Young's Jim Kornick and Chip Ryan marketed the property for Ausherman in what the company called "a highly competitive" process.

Kornick said the assets appealed to "all national core medical office investors" and the sale exceeded the Ausherman's expectations.

CNL owns a number of medical office buildings and senior housing facilities in Frederick, MD, such as Tranquillity at Fredericktowne, the Liberty Professional Center and the Patriot Professional Center.

CNL has made a number of acquisitions around the country this year. Earlier this month it closed on a five-property seniors housing portfolio from AEW Capital Management. The $195-million deal brought CNL Healthcare's year-to-date investment total to well over $500 million.

Specifically, it has invested $540.7 million in 25 medical office buildings and seniors housing communities during the first seven months of 2015, bringing its total portfolio to 125 assets in 29 states with a value of approximately $2.5 billion. This figure includes the Liberty and Patriot Professional Centers medical office buildings in Frederick.

The purchases span the country, from Novi Orthopaedic Center, a medical office building in Novi, Mich., which traded for $30.5 million to a six-asset portfolio in the Triangle area for $63.1 million.

Approximately 76% of the medical office buildings are located on or adjacent to hospital campuses. The average age of the assets in the portfolio is 9.7 years, with the average age of the company's seniors housing assets being 7.7 years. The weighted average time remaining on tenant leases is 7.6 years.