{"id":1004566107,"date":"2022-02-03T04:48:45","date_gmt":"2022-02-03T12:48:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004566107"},"modified":"2022-12-09T02:47:51","modified_gmt":"2022-12-09T10:47:51","slug":"lionstone-investments-picks-up-orange-county-mob-for-125m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lionstone-investments-picks-up-orange-county-mob-for-125m\/","title":{"rendered":"Lionstone Investments Picks Up Orange County MOB for $125M"},"content":{"rendered":"
\"Aerial<\/a>

Newport Lido Medical Center. Image courtesy of JLL<\/p><\/div>\n

Lionstone Investments<\/strong> has acquired Newport Lido Medical Center, a two-building medical office complex totaling 146,510 square feet in Newport Beach, Calif. The buyer paid $125 million for the fully leased asset through an all-cash transaction, Orange County records show.<\/p>\n

The previous owner was Newport Lido Medical <\/strong>and the disposition represents the first time the property changed ownership, according to CommercialEdge<\/strong> data. Newport Lido Medical Center sits on nearly 7 acres at 351 and 361 Hospital Road, and was built in phases between 1964 and 1990, the same data provider shows.<\/p>\n

JLL<\/strong> represented the seller in the transaction, which marks the buyer\u2019s first foray into the medical office sector.<\/p>\n

The Class A property with five- and six-story buildings includes an on-site pharmacy, retail space, two out-patient surgery centers, a medical laboratory and a physical therapy facility, among others. The complex offers ample parking with a ratio of 5 spaces per 1,000 square feet.<\/p>\n

High-profile MOB<\/h2>\n

Alongside anchor tenants Hoag Hospital Newport Beach Surgery Center and Prime Surgical Center, the long list of tenants includes Fountain Orthotics & Prosthetics, The Ocean Clinic and Magella Medical Group. Hoag Hospital Newport Beach is one of the top 10 ranking hospitals in California, and among the top five hospitals within Greater Los Angeles, according to U.S. News & World Report<\/em>.<\/p>\n

Across the street from Hoag Hospital, another medical office building changed hands last year. In April, Forward Time Corp. paid $41 million<\/a> for the 29,991-square-foot Harbor Medical Plaza. The $1,367 per square foot price set a record at the time for the Orange County medical office market.<\/p>\n

A team effort<\/h2>\n

The sale of Newport Lido Medical Center was part of a joint effort. Senior Managing Directors Andrew Milne and Evan Kovac led the JLL Healthcare Capital Markets team that worked on behalf of the seller. The team also included Managing Director John Chun, Director Matt DiCesare, along with Niema Beglari, Trent Jemmett and Chad Prescher. Senior Director Blake Bokosky and Director Mark DeGiorgio, part of JLL\u2019s Orange County office, and Managing Director Monica Enes and Vice President Kellie Hill, part of JLL\u2019s Healthcare Brokerage team, also provided support.<\/p>\n

The professional services firm is branching out to other sectors. Recently, the company launched a national life science group division<\/a> within JLL Property Management.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is the first deal for the buyer in the medical office sector. <\/p>\n","protected":false},"author":1763,"featured_media":1004566110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21783,21754,21742,15],"tags":[32796,33177],"class_list":["post-1004566107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-investment","category-medical-office","category-latest","category-west","tag-jll","tag-lionstone-investments"],"acf":[],"yoast_head":"\nLionstone Investments Picks Up Orange County MOB for $125M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The purchase of Newport Lido Medical Center in Newport Beach marks Lionstone Investment's entrance into the medical office sector.\" \/>\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\/lionstone-investments-picks-up-orange-county-mob-for-125m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lionstone Investments Picks Up Orange County MOB for $125M\" \/>\n<meta property=\"og:description\" content=\"The purchase of Newport Lido Medical Center in Newport Beach marks Lionstone Investment's entrance into the medical office sector.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lionstone-investments-picks-up-orange-county-mob-for-125m\/\" \/>\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=\"2022-02-03T12:48:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:47:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Newport-Lido-Medical-Center.-Image-courtesy-of-JLL-e1643888018592.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"887\" \/>\n\t<meta property=\"og:image:height\" content=\"665\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\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\/lionstone-investments-picks-up-orange-county-mob-for-125m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lionstone-investments-picks-up-orange-county-mob-for-125m\/\",\"name\":\"Lionstone Investments Picks Up Orange County MOB for $125M - 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