LaSalle Investment Management Buys Memorial Hermann Medical Plaza
According to a source in the Wall Street Journal the property traded for $405 million.
HOUSTON – LaSalle Investment Management has acquired Memorial Hermann Medical Plaza, a 28-story, 510,000-square-foot, medical office building located in the Texas Medical Center. This medical district is the world’s largest medical complex, comprised of more than 60 member institutions.
The price of the Memorial Hermann Medical Plaza was not disclosed, but according to a source in the Wall Street Journal, it traded for $405 million.
The property is currently 99% occupied, and features such healthcare infrastructure as an ambulatory surgery center, a linear accelerator and various imaging and diagnostic systems.
Walter Mischer, Jr., general partner and president of the seller, Mischer Healthcare, stated, “Memorial Hermann Medical Plaza is universally considered one of the nation’s best medical office complexes and it has been a pleasure to work with Memorial Hermann in creating this Class A+ asset.”