{"id":1004187697,"date":"2017-08-18T03:13:20","date_gmt":"2017-08-18T11:13:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004187697"},"modified":"2022-12-08T13:43:04","modified_gmt":"2022-12-08T21:43:04","slug":"cbre-global-buys-25-medical-office-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-global-buys-25-medical-office-buildings\/","title":{"rendered":"CBRE Global Buys 25 Medical Office Buildings"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Terrace<\/a>

Terrace Park in the Atlanta<\/p><\/div>\n

CBRE Global Investment Partners has acquired a 95 percent interest in a 10-state, 25-building medical office portfolio from Kayne Anderson Real Estate Advisors and MB Real Estate Healthcare.<\/p>\n

\u201cWe\u2019ve been investing in what I\u2019ll call the alternative sectors\u2014medical office, student housing, senior housing, storage\u2014for the past few years, and as we\u2019ve gotten to know them better, we\u2019ve continued to like the supply and demand fundamentals,\u201d <\/em>Matt Tepper, CBRE Global Investors\u2019 managing director, told Commercial Property Executive. \u201cWith medical office specifically, with more people requiring health care, it\u2019s a sector we certainly wanted to increase our exposure to.\u201d<\/em><\/p>\n

The portfolio consists of a total of 1.4 million square feet of space and a 150,000-square-foot development project.<\/p>\n

Attractive mix<\/h2>\n

\u201cWe thought this portfolio had a really unique mix of both alt and on-campus apartments, with a really strong tenant base, that included both regional and national healthcare systems, as well as a lot of specialty providers,\u201d <\/em>Tepper said. \u201cOverall, we thought the mix of this portfolio was really attractive.\u201d<\/em><\/p>\n

Kayne Anderson Real Estate Advisors and\u00a0MBRE Healthcare will continue to operate and manage the portfolio, a big key for CBRE Global Investors in the transaction.<\/p>\n

The buildings are heavily concentrated in Atlanta and Chicago, but overall represent a broad geographic exposure with a mix of both off-campus and on\/near-campus locations.<\/p>\n

\u201cWe really like the tenancy we have in both of those markets. They are both markets with large populations,\u201d <\/em>Tepper said.<\/p>\n

At the time of the sale, the portfolio was nearly 95 percent occupied, with key tenants including both national and regional healthcare systems along with high-quality specialists.<\/p>\n

Diversifying income sources<\/h2>\n

\u201cAs we get later in the cycle and think about how we invest capital at this point, something that was interesting to us was diversifying our income sources,\u201d<\/em> Tepper said. \u201cWe think the niche selectors are interesting and provide real diversification in that the demand that underpins the income is less correlated than what underpins the income in some of the other areas.\u201d<\/em><\/p>\n

CBRE Global Investment Partners<\/a> will work with its operating partner to do some minor repositioning of some of the assets, such as upgrading lobbies, improving elevator systems, redoing parking lots and other things that will improve the patient experience.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 1.4 million-square-foot, 10-state portfolio will be operated by the seller, a joint venture of Kayne Anderson Real Estate Advisors and MBRE Healthcare.<\/p>\n","protected":false},"author":451,"featured_media":1004187703,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21754,23891,21742],"tags":[32789,37279,37280],"class_list":["post-1004187697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-medical-office","category-national","category-latest","tag-cbre","tag-kayne-anderson-real-estate-advisors","tag-mb-real-estate"],"acf":[],"yoast_head":"\nCBRE Global Buys 25 Medical Office Buildings - 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\/cbre-global-buys-25-medical-office-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Global Buys 25 Medical Office Buildings\" \/>\n<meta property=\"og:description\" content=\"The 1.4 million-square-foot, 10-state portfolio will be operated by the seller, a joint venture of Kayne Anderson Real Estate Advisors and MBRE Healthcare.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-global-buys-25-medical-office-buildings\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-18T11:13:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:43:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Terrace-Park-in-the-Atlanta.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-buys-25-medical-office-buildings\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-buys-25-medical-office-buildings\/\",\"name\":\"CBRE Global Buys 25 Medical Office Buildings - 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