{"id":1004050431,"date":"2012-11-16T09:13:52","date_gmt":"2012-11-16T17:13:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=80831"},"modified":"2022-12-05T15:45:35","modified_gmt":"2022-12-05T23:45:35","slug":"three-orlando-area-mobs-part-of-322m-portfolio-acquired-by-duke-realty","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/three-orlando-area-mobs-part-of-322m-portfolio-acquired-by-duke-realty\/","title":{"rendered":"Three Orlando-Area MOBs Part of $322M Portfolio Acquired by Duke Realty"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor\"\"<\/a><\/em><\/p>\n

In one of the largest medical office building portfolio transactions, Duke Realty paid $332 million for 14 properties in six states. Seller Seavest Healthcare Properties LLC has divested two of its early discretionary funds in the transaction which included assets totaling more than 1.2 million square feet.<\/p>\n

The transaction encompassed all of the remaining assets from Seavest Properties I and II. Three properties were included from Fund I\u2014eight other assets from Fund I were sold in May 2011 to Grubb & Ellis Healthcare REIT II Inc.\u2014and the remaining 11 were disposed from Fund II.<\/p>\n

\u201cThe MOBs that changed hands consist of modern, class A properties affiliated with leading hospitals and health systems in their respective markets,\u201d says Douglas Ray, president and CEO of White Plains, NY-based Seavest. \u201cIn aggregate, the institutional-quality assets are approximately 90 percent leased, with hospitals and their affiliates accounting for approximately 63 percent of the occupancy.\u201d<\/p>\n

The three Orlando-area properties that traded as part of the 1.2 million-square-foot portfolio were:<\/p>\n