COLORADO SPRINGS-Denver-based healthcare real estate owner and developer NexCore Group has acquired two medical office buildings and a development parcel here from the City of Colorado Springs-owned Memorial Health System for $69.4 million. NexCore acquired the properties in a joint venture with publicly traded healthcare REIT Ventas Inc.

The two buildings are the 223,000-sf Printers Park Medical Office Building at 175 South Union Blvd. and the 59,000-sf Briargate Medical Office Building at 8890 North Union Blvd. The two buildings were acquired for $66 million. The additional developable land, located within Briargate, was acquired for $3.4 million.

As part of the deal, MHS will continue to be the largest tenant of the two buildings. Memorial Health Systems CEO Richard Eitel says NexCore was not only the high bidder but also had the experience and expertise to manage the physician office space in the two buildings.

“As the largest tenant occupying the Briargate and Printers Park Buildings, MHS will continue to have relationships with the physician tenants and we wanted to make sure the buyer had a track record of successfully dealing with physicians over time,” he says.

Led by president/CEO Greg Venn, NexCore Group owns and operates nearly 1.3 million sf of healthcare related real estate nationwide. The acquisition from MHS makes NexCore one of the largest medical office building owners in Colorado Springs.

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