Emory Buys Atlanta MOB for $82M

July 31, 2026

Medical Office Atlanta Investment News More Southeast

Georgia's only proton therapy center operates at the location.

Exterior shot of the Emory Proton Therapy Center in Atlanta. — Emory Proton Therapy Center includes five treatment rooms and a 90-ton cyclotron across two stories. Image courtesy of Yardi Matrix

Emory University has acquired the 107,500-square-foot medical office building that houses Emory Proton Therapy Center in Atlanta for $82 million, according to Bisnow.

Georgia ProtonCare Center sold the property. The nonprofit entity, wholly owned by Provident Resources Group, declared Chapter 11 bankruptcy in January 2026. In February, the U.S. Bankruptcy Court designated Emory University as the company with the right of first offer, with the minimum purchase price ahead of the bidding process established at $110 million. No competing bids emerged during the auction process.

The new owner ultimately paid a total of $101 million, including closing costs and the settlement of bankruptcy-related expenses, according to Atlanta Business Chronicle.

The transaction adds to Emory Healthcare’s broader expansion in metro Atlanta. Earlier this month, the company unveiled plans to more than double its 274,000-square-foot lease at Northlake Mall after the property changed hands. The buyer, The Centurian Foundation, intends to to transform the former shopping center into a medical campus.

An Atlanta medical office property

The two-story building is at 615 Peachtree St., next to Emory University Hospital Midtown and Winship Cancer Institute. The 2-acre property is close to interstates 75 and 85 in Midtown. Downtown Atlanta is less than 1 mile away.

Completed in 2013, the facility houses a 90-ton cyclotron, five proton therapy treatment rooms, imaging equipment and an adjacent parking deck. Physicians from the Winship Cancer Institute as well as staff from Emory Healthcare provide patient care at the property.

Emory Proton, the only specialized cancer treatment facility in Georgia, opened at the facility in 2018, after Atlanta Development Authority financed it with $370 million in municipal bonds. Since then, the bond balance exceeded $390 million as interest accumulated, and Georgia ProtonCare Center defaulted on repayments in 2025. At the time, the nonprofit attributed its financial distress to low reimbursement from Medicare, Medicaid and other private insurers, as well as lower patient volumes.

Medical office demand stays healthy in A-Town

The medical office sector of Atlanta continued to post healthy fundamentals during the second quarter of 2026, according to a recent report by Lee & Associates. Vacancy declined to 6.6 percent as health-care providers expanded and leased available space across several major submarkets. The metro’s performance reflects broader medical office building trends, as the sector continues to stand out for its resilient occupancy levels.

Investment activity moderated, totaling $44.3 million during the second quarter, down from the $91 million recorded during the first three months of the year. Despite the slowdown, average sale prices climbed to $265 per square foot—a roughly 18 percent increase from the previous quarter’s average of $225 per square foot. Development remained limited, with nearly 500,000 square feet underway.

Among Atlanta’s planned projects is CP Group’s Buckhead Medical Center. The company will redevelop four buildings within the Piedmont Center mixed-use campus into 85,000 square feet of medical office space.