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ROSEMONT, IL-A new company formed by the McShane Cos. is working on a deal to acquire 14 medical properties, totaling more than 400,000 sf. McShane Medical Properties has been launched to acquire, manage and otherwise provide services for hospital space across the country, says company officials. Raymond M. Braun, president and Alexander M. Hlavacek, chief operating officer, will oversee the new firm.

Braun tells GlobeSt.com that the company will team with an equity partner to acquire properties, especially in already-established McShane markets in Texas, Arizona, Atlanta and Chicago. Braun says that he and Hlavacek have already toured a few properties, and are looking at a package in the Chicago area. “If we’re lucky, that will be our first transaction, we’re hoping in the next 30 to 60 days to announce the acquisition and equity partner. We’ve got five-six other transactions in the works, but 75% of them are direct deals, they tend to take more time.” Braun says he could not divulge the company that owns the

Hospitals are looking to divest property to move the money into facilities and salaries, says Braun. “They are finding the need to focus on their core businesses, taking care of patients,” Braun says. “There are more real estate companies forming acquisition companies like these, but the business is still fragmented. It’s a fundamentally sound investment.” Plus the partnership with hospitals just builds future deals, Hlavacek says. “If they need any future development, we can do that,” he tells GlobeSt.com.

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