Healthcare Realty Trust Acquires Indianapolis-Based Methodist Professional Center II
“MPC II is a great example of a highly sought-after, fully occupied, on-campus outpatient facility – fully integrated into Indiana University Health’s Methodist Hospital," says JLL's Mindy Berman.
INDIANAPOLIS, IN—Healthcare Realty Trust, a New York Stock Exchange-listed REIT, acquired a 143,499-square-foot class A outpatient facility on the academic medical campus of Indiana University Health’s Methodist Hospital in downtown Indianapolis. It is the largest hospital complex in the state of Indiana with 1,411 staffed beds. The seller was The Sanders Trust, headquartered in Birmingham, AL, which specializes in the development, acquisition and management of strategic healthcare properties.
Methodist Professional Center II is fully occupied by Indiana University Health and its affiliates. It features the campus’s outpatient ambulatory surgery center and cardiovascular specialists.
Mindy Berman, managing director, and Justin Hill of Jones Lang LaSalle Healthcare Capital Markets served as advisors to the seller along with Bruce Gordon. JLL has sold more than 841,000 square feet of healthcare properties in Indiana.
“MPC II is a great example of a highly sought-after, fully occupied, on-campus outpatient facility – fully integrated into Indiana University Health’s Methodist Hospital,” Berman tells GlobeSt.com exclusively. Expected growth of patient care and facilities at the campus “enhances the investment value of the medical office building and creates potential for highly prized growth for the investor with the health system,” she says.
The four-story property, built in 1992, occupies 1.4 acres. MPC II is integrally connected to the hospital facility and is a critical component of IU Health’s $1 billion project to consolidate clinical operations from University Hospital into the expanded, dynamic and growing facilities of Methodist Hospital and Riley Hospital for Children.