Meridian is building a strategy focused on medical office conversion projects with a goal of bringing more quality healthcare to a supply-constrained market. The healthcare investor and developer has acquired a two-story, 53,500-square-foot building in Orange County for $20.4 million, learns exclusively. Meridian plans to invest an additional $5 million into the building to properly transition it into medical office.

“Meridian identified the property on the first day it came to market and became involved in a competitive bidding situation with multiple other users and investors,” R.J. Sommerdyke, VP of acquisitions at Meridian, tells “Ultimately, we were able to win the deal by leveraging our reputation and track record, which gave the seller confidence in our ability to close quickly.”

The project is exemplary of Meridian’s current acquisition strategy. The property is 100% vacant and located on a 4.8-acre parcel adjacent to new retail and office developments. “I am excited about this project because it exemplifies Meridian’s mission to deliver functional spaces in convenient locations that provide a fantastic patient experience, all while providing the user with a competitive cost of occupancy,” says Sommerdyke. “We are thrilled to have already signed a major tenant in this project. The services they provide will enhance the lives of countless individuals and will be a major benefit to the entire community that it’s serving, which aligns so well with Meridian’s values.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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