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Comprising a $700-million sale-leaseback and a $700-million mortgage investment, the completion of the deal with Medical Properties Trust coincides with Steward Health Care's merger with IASIS.
The eight-story steel and glass facility will include an Advanced Imaging Center, Ambulatory Surgery Center and Heart and Vascular Institute, in addition to a 20,000-square-foot expansion of private rooms for the medical center and 75,000 additional square feet for physicians' offices.
A $430-million sale-leaseback, along with a minority stake in an Enlivant portfolio announced last week, "repositions the company well beyond" its merger with Care Capital Properties, says Sabra CEO Rick Matros.
The demand is getting intense, but distributors are still trying to figure out how to do it, say panelists at RealShare Industrial, and developers need to stay flexible.
While the beginning of the year was quiet as investors regained their footing following the election, the number of transactions in the market has picked up since the summer, say speakers at RealShare Orange County.
The submarket has lost millions of square feet in office space in the last 25 years, but its remaining tenants are loyal, and rent increases are outpacing the CBD.
CHICAGO, INDIANAPOLIS—Empty big box spaces have opened up across the US, but top locations could see expansions from players not previously in the market.