{"id":1004577037,"date":"2022-04-20T05:42:16","date_gmt":"2022-04-20T13:42:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004577037"},"modified":"2022-12-08T23:21:48","modified_gmt":"2022-12-09T07:21:48","slug":"harrison-street-pockets-600m-for-mob-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/harrison-street-pockets-600m-for-mob-portfolio\/","title":{"rendered":"Harrison Street Pockets $600M for MOB Portfolio"},"content":{"rendered":"
\"\"<\/a>

Part of the Harrison Street traded portfolio. Image courtesy of JLL.<\/p><\/div>\n

Canada-based REIT NorthWest Healthcare Properties<\/strong> has entered the U.S. market with the acquisition of a 1.2 million-square-foot, 27-asset medical office portfolio spread across 10 states. Harrison Street<\/strong> pocketed more than $600 million for the properties that were held in several of its funds. JLL<\/strong> represented the seller.<\/p>\n

Spread across Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas, the portfolio comprises various types of medical facilities, from medical offices and surgery centers to transitional care and women\u2019s care clinics. The properties are managed in partnership with Pisula Development<\/strong>, The Sanders Trust<\/strong>, MedProperties Group<\/strong>, Meridian Property Co.<\/strong> and NexCore<\/strong>.<\/p>\n

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READ ALSO: <\/strong>What Will Future Lab Space Look Like?<\/a><\/p>\n

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At the time of sale, the portfolio was 97 percent leased, according to JLL. Advocate Aurora Health, Rush University Medical Center, Banner Health, Tenet Health, Lutheran Health Network and Edward-Elmhurst Healthcare are among the tenants of the buildings.\u00a0One of the traded properties was a 72,000-square-foot inpatient hospital in Brooklyn Park, Minn., according to the Minneapolis\/St. Paul Business Journal<\/em>. Harrison Street had bought the asset in 2017 for $41.9 million, CommercialEdge data shows.<\/p>\n

JLL Healthcare Capital Markets Senior Managing Directors Mindy Berman, Evan Kovac, Andrew Milne and Brian Bacharach worked together with Managing Directors Tim Joyce and Brannan Knott, as well as Vice Presidents Trent Jemmett and CJ Kodani, in assisting Harrison Street in the disposition. Additionally, JLL licensed brokers provided local support.<\/p>\n

Green light for health-care real estate investment<\/h2>\n

Harrison Street has been very active in recent months, both buying and selling medical office portfolios. In March, the firm sold eight medical office buildings<\/a> across California for some $215 million. The 380,000-square-foot portfolio is mainly located in the San Francisco Bay Area.<\/p>\n

On the acquisition side, Harrison Street purchased an 11-asset medical office portfolio<\/a> totaling more than 500,000 square feet in January. The Ryan Cos. sold the properties located across Florida, Wisconsin, Illinois, Minnesota, North Carolina and North Dakota, with Newmark representing the seller.<\/p>\n

Due to its stability and consistently strong yields, health care has become the preferred alternative real estate sector in 2022, according to a recent CBRE survey<\/a>. Investment in U.S. health-care real estate assets could reach $25 billion this year, with medical office buildings as the most desirable health-care product type for investment.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Canadian REIT entered the U.S. market by purchasing the 27 assets spread across 10 states.<\/p>\n","protected":false},"author":870,"featured_media":1004577044,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21754,23891,21742],"tags":[36591,32796,50329,34722,39262,38554],"class_list":["post-1004577037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-medical-office","category-national","category-latest","tag-harrison-street-real-estate-capital","tag-jll","tag-medproperties-group","tag-nexcore-group","tag-northwest-healthcare-properties","tag-sanders-trust"],"acf":[],"yoast_head":"\nHarrison Street Pockets $600M for MOB Portfolio - CPE<\/title>\n<meta name=\"description\" content=\"NorthWest Healthcare Properties purchased a medical office portfolio for more than $600 million from Harrison Street.\" \/>\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\/harrison-street-pockets-600m-for-mob-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harrison Street Pockets $600M for MOB Portfolio\" \/>\n<meta property=\"og:description\" content=\"NorthWest Healthcare Properties purchased a medical office portfolio for more than $600 million from Harrison Street.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/harrison-street-pockets-600m-for-mob-portfolio\/\" \/>\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=\"2022-04-20T13:42:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:21:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/Harrison-Street-Portfolio-e1650457800195.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"845\" \/>\n\t<meta property=\"og:image:height\" content=\"634\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harrison-street-pockets-600m-for-mob-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harrison-street-pockets-600m-for-mob-portfolio\\\/\"},\"author\":{\"name\":\"Adriana Marinescu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"headline\":\"Harrison Street Pockets $600M for MOB Portfolio\",\"datePublished\":\"2022-04-20T13:42:16+00:00\",\"dateModified\":\"2022-12-09T07:21:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harrison-street-pockets-600m-for-mob-portfolio\\\/\"},\"wordCount\":395,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harrison-street-pockets-600m-for-mob-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/04\\\/Harrison-Street-Portfolio-e1650457800195.jpg\",\"keywords\":[\"Harrison Street Real Estate Capital\",\"JLL\",\"MedProperties Group\",\"NexCore Group\",\"NorthWest Healthcare Properties\",\"Sanders Trust\"],\"articleSection\":[\"Featured\",\"Investment\",\"Medical Office\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harrison-street-pockets-600m-for-mob-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harrison-street-pockets-600m-for-mob-portfolio\\\/\",\"name\":\"Harrison Street Pockets $600M for MOB Portfolio - 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