Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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, GlobeSt.com 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 GlobeSt.com. “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.”

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

More from this author

GlobeSt. Healthcare Real Estate 2019Event

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!
Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.