Partnership Acquires Two MOB Portfolios for $420M
National Real Estate Advisors and Catalyst Healthcare Real Estate have acquired and recapitalized two healthcare portfolios, totaling 40 properties and 1.2M SF.
WASHINGTON D.C. – Joint-venture partners, National Real Estate Advisors LLC and Catalyst Healthcare Real Estate have acquired and recapitalized two multi-state healthcare portfolios totaling $420 million.
The acquired portfolios comprise 40 medical office properties, totaling 1.2 million square feet. The properties are situated across 13 states, including Alabama, Arkansas, Connecticut, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, North Caroline, Tennessee, Taxas and Virgina.
The portfolios are 92% leased, of which 88% of the leased space is tenanted by health systems and regional physician groups.
The transactions allow both companies to expand their medical office building portfolios throughout the nation.
“These transactions underscore National’s commitment to investing in highly competitive, diverse markets that seek to generate long-term, healthy returns for our clients,” states Jeffrey Kanne, president and CEO of National Real Estate Advisors. “We are thrilled to be able to acquire these portfolios of medical office properties alongside an experienced and talented operational partner such as Catalyst. This acquisition not only significantly scales our medical office portfolio but furthers National’s geographic diversification.”
“These transactions further Catalyst’s commitment to building on meaningful relationships within healthcare,” says Chad Henderson, founder and CEO, of Catalyst Healthcare Real Estate. “We are thankful that National values the significance of our partnership approach. Our joint-venture strives to positively impact healthcare delivery by investing strategic capital with a partnership like mentality. The closing of the portfolios was a significant first step for our joint venture and paves the way for the future of Catalyst.”