San Francisco, Phoenix and Denver (PRWEB) October 25, 2013
NexCore Group LP, a national healthcare real estate firm, and Heitman LLC, a multi-national real estate investment management firm, announced today the acquisition of a ±671,811 square foot medical office portfolio in California and Arizona. Dignity Health occupies approximately 33 percent of the portfolio. Dignity is the fifth largest hospital system in the nation, with 39 hospitals in the three states of California, Arizona and Nevada.
“With the resurgence in the Arizona and California real estate markets, and with the continued growth in the healthcare sector, we are excited to invest in this portfolio,” says Greg Venn, CEO of NexCore. “We will bring new capital improvements to the project and a new pride of ownership that reflects the quality tenancy in the buildings.”
Strategic Portfolio Acquisition
The portfolio contains 13 medical office buildings — eight of which are located in southern California and five of which are located in Arizona around the Phoenix metropolitan area. Nine of the buildings reside on the campuses of Dignity Health hospitals, making them strategic real estate for the health system.
