The seller was Seavest Inc., a privately held investment andwealth management group based in White Plains. The deal wasarranged for Seavest by the New York City-based Granite PartnersLLC.

"This transaction is indicative of the strength of the class Asegment of the medical office market as the going-in yield wasaggressive for the first two years of the hold," John D. Lyons,president of Granite Partners, tells GlobeSt.com. "That was areflection of the credit quality of the hospital and the uniquenessof the office building/parking garage property.

"We have made a business decision to aggressively expand intothis sector," Lyons says. "We look beyond the field of investorsthat would normally consider an investment of this type. We'vediscovered that it makes sense to target a much wider capitalmarket, both domestic and foreign, and also from private andinstitutional sources."