Accretive Disposes of Repositioned MOB

ALISO VIEJO, CA-The 27,192-square-foot, class-A Aliso Viejo Medical Center sells to a private equity fund for an undisclosed amount after substantial renovations.

By Carrie Rossenfeld | Updated on November 08, 2013

ALISO VIEJO, CA-Accretive Realty Advisors Inc. has sold 24502 Pacific Park Dr., a 90%-occupied, 27,192-square-foot, class-A medical-office building known as Aliso Viejo Medical Center to a private-equity fund for an amount undisclosed to GlobeSt.com. Accretive had purchased the three-story MOB in August 2010 as a value-add project and immediately embarked upon a substantial renovation of the building’s entry, main lobby, elevator, common restrooms and HVAC system.

Newmark Grubb Knight Frank‘s executive managing directors Garth Hogan and Todd Perman worked with Richard Bland of Cornish & Carey Newmark Knight Frank on the transaction after renewing the property’s largest tenant, Kaiser Permanente, earlier this year. Guggenheim Realty Group acted as advisor for the buyer.

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