JLL Capital Markets facilitates the sale of four medical properties in high-growth markets
PHOENIX (Feb. 9, 2024) – JLL Capital Markets announced today that it arranged the $86 million sale of a collection of four mission-critical medical properties totalling over 181,000 square feet located in Phoenix, Southern Florida and Chicago area.
JLL worked on behalf of the seller, Flagler Healthcare Investments, and procured the buyer, Remedy Medical Properties and its partner Kayne Anderson Real Estate.
The medical properties cater to a diverse range of healthcare specialties, including orthopedic surgery, cardiology, pediatrics and imaging. These facilities are operated by leading health systems and providers, ensuring the delivery of high-margin healthcare services.
The properties in the portfolio are 99 percent leased and consist of Oasis Surgical Hospital (750 N 40th St. Phoenix, AZ), Baptist Health City I & II (10275 & 10383 Hagen Ranch Rd, Boynton Beach, FL) and Elgin Professional Plaza (750 Fletcher Dr, Elgin, IL).
The JLL Medical Properties Group Advisory team was led by Senior Managing Director Mindy Berman, Director Matt DiCesare and Associate Liam Sorensen.
"We were delighted to have facilitated the sale of this portfolio on behalf of Flagler Healthcare Investments," said Berman. "The portfolio's strong tenant mix, long remaining lease terms and strategic market locations made this an ideal investment opportunity.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.