{"id":1004618507,"date":"2022-11-09T03:33:57","date_gmt":"2022-11-09T11:33:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004618507"},"modified":"2022-12-09T02:18:15","modified_gmt":"2022-12-09T10:18:15","slug":"artemis-jv-acquires-12-building-mob-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/artemis-jv-acquires-12-building-mob-portfolio\/","title":{"rendered":"Artemis JV Acquires 12-Building MOB Portfolio"},"content":{"rendered":"
\"Image<\/a>

Image by insta_photos\/iStockphoto.com<\/p><\/div>\n

Artemis Real Estate Partners<\/strong>, in a joint venture with Rendina Healthcare Real Estate<\/strong>\u00a0and CalSTRS<\/strong>, has acquired a 12-building, 352,981-square-foot medical office portfolio.<\/p>\n

Newmark <\/strong>acted as equity placement agent, broker and financial advisor for the transaction. The brokerage also facilitated Rendina and Artemis entering into a $1 billion joint venture<\/a> back in 2021, a partnership that was seeded through the recapitalization of a six-property medical office building portfolio.<\/p>\n

The 96 percent-occupied ensemble encompasses assets spanning Florida, Georgia, Illinois, Minnesota, Nevada, Ohio, Texas and Virginia. Most of the properties are located in Certificate-of-Need states, with their weighted average remaining lease term reaching 6.6 years.<\/p>\n

Health systems, credit tenants and physician networks occupy more than half of the leased space in the portfolio. With a $21 triple-net rent operating income per occupied square foot, average rents across the assets are roughly 10 percent below national portfolio averages traded over the past five years.<\/p>\n

Newmark’s Healthcare Capital Markets team representing the seller included Senior Managing Directors Jay Miele, Michael Greeley and John Nero, together with Executive Managing Director Ben Appel. Associates Adam Goss and Ron Ott provided financial analysis for the deal.<\/p>\n

In early 2022, Artemis also entered in a joint venture with Thomas Park Investments<\/a>, planning to invest a total of $500 million in the purchase of core-plus medical office properties. The partners seeded the venture with the acquisition of three assets totaling 92,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment spans more than 350,000 square feet.<\/p>\n","protected":false},"author":3030,"featured_media":1004621827,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,23891,21742],"tags":[34570,40376,50999,35623],"class_list":["post-1004618507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-national","category-latest","tag-artemis-real-estate-partners","tag-calstrs","tag-newmark","tag-rendina-healthcare-real-estate"],"acf":[],"yoast_head":"\nArtemis JV Acquires 12-Building MOB Portfolio - CPE<\/title>\n<meta name=\"description\" content=\"Artemis, in a joint venture with Rendina and CalSTRS, has acquired a 12-building, 352,981-square-foot medical office building portfolio.\" \/>\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\/artemis-jv-acquires-12-building-mob-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Artemis JV Acquires 12-Building MOB Portfolio\" \/>\n<meta property=\"og:description\" content=\"Artemis, in a joint venture with Rendina and CalSTRS, has acquired a 12-building, 352,981-square-foot medical office building portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/artemis-jv-acquires-12-building-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=\"2022-11-09T11:33:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:18:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/MicrosoftTeams-image-10.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1114\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\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\/artemis-jv-acquires-12-building-mob-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/artemis-jv-acquires-12-building-mob-portfolio\/\",\"name\":\"Artemis JV Acquires 12-Building MOB Portfolio - 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