{"id":1004083020,"date":"2013-09-02T20:27:03","date_gmt":"2013-09-03T04:27:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=172546"},"modified":"2020-04-05T23:37:46","modified_gmt":"2020-04-06T07:37:46","slug":"cnl-healthcare-properties-buys-elyria-medical-building-for-20m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cnl-healthcare-properties-buys-elyria-medical-building-for-20m\/","title":{"rendered":"CNL Healthcare Properties Buys Elyria Medical Building for $20M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">The\u00a0Cleveland Clinic Elyria Family <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/1098428_415251881928759_96011501_n.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-172547\" title=\"1098428_415251881928759_96011501_n\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/1098428_415251881928759_96011501_n.jpg\" alt=\"\" width=\"300\" height=\"195\" \/><\/a>Health and Surgery Center has a new owner. Orland-based CNL Healthcare Properties Inc. has acquired the property as part of a six-building portfolio for which it paid a total of $59.5 million.<\/p>\n<p style=\"text-align: justify;\">The 40,000-square-foot, outpatient-oriented medical facility was constructed in 2008. It is located at 303 Chestnut Commons Drive in Elyria and is fully leased by The Cleveland Clinic, which will remain a tenant in the building.<\/p>\n<p style=\"text-align: justify;\">According to the website of the <a href=\"https:\/\/loraincountyauditor.com\" target=\"_blank\" rel=\"nofollow\"><em>Lorain County Auditor&#8217;s Office<\/em><\/a>, the property was acquired for $20.2 million in a deal that closed on Aug. 22. The seller was MMIC Chestnut Commons LLC. The market value was set at $12.1 million, while the market value of the land was set at $1.8 million.<\/p>\n<p style=\"text-align: justify;\">Totaling 181,890 square feet, CNL Healthcare\u2019s newly acquired portfolio also features properties in the Phoenix, Kansas City, Kan., and San Diego metropolitan areas. The other five buildings are the John C. Lincoln Medical Plaza I and II and the North Mountain Medical Plaza in Phoenix; the Doctors Specialty Hospital Medical Office Building in Leawood, Kan.;\u00a0 and the Escondido Medical Arts Center in Escondido, Calif.<\/p>\n<p style=\"text-align: justify;\">\u201cWe believe this acquisition will both expand and diversify our medical office and specialty healthcare portfolio with the addition of high-quality facilities in thriving metropolitan markets,\u201d Kevin Maddron, senior managing director for healthcare and senior housing properties for CNL Financial Group, said in a statement for the press.<\/p>\n<p style=\"text-align: justify;\">The\u00a0Cleveland Clinic Elyria Family Health and Surgery Center will be managed by the healthcare division of Holladay Properties, which will also manage and lease the properties in Kansas and Phoenix. Lincoln Harris CSG, an affiliate of Lincoln Property Co., will manage the center.<\/p>\n<p style=\"text-align: justify;\">This is CNL Healthcare\u2019s fourth medical office- and healthcare-related facility portfolio acquisition this year. The company said it has invested $149.7 million in 12 medical facilities across the country.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credits: <a href=\"https:\/\/maps.google.ro\" target=\"_blank\" rel=\"nofollow\">Google Maps<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cleveland Clinic Elyria Family Health and Surgery Center has a new owner. Orland-based CNL Healthcare Properties Inc. has acquired the property as part of a six-building portfolio for which it paid a total of $59.5 million.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584],"tags":[39423,1815],"class_list":["post-1004083020","post","type-post","status-publish","format-standard","hentry","category-cleveland","tag-cleveland","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CNL Healthcare Properties Buys Elyria Medical Building for $20M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cnl-healthcare-properties-buys-elyria-medical-building-for-20m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CNL Healthcare Properties Buys Elyria Medical Building for $20M\" \/>\n<meta property=\"og:description\" content=\"The Cleveland Clinic Elyria Family Health and Surgery Center has a new owner. 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