{"id":1004637726,"date":"2023-01-04T07:00:38","date_gmt":"2023-01-04T15:00:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004637726"},"modified":"2023-01-05T05:05:36","modified_gmt":"2023-01-05T13:05:36","slug":"remedy-kayne-anderson-buy-131m-mob-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/","title":{"rendered":"Remedy, Kayne Anderson Buy $131M MOB Portfolio"},"content":{"rendered":"
\"\"<\/a>

Precision Spine Care. Image courtesy of Remedy Medical Properties<\/p><\/div>\n

Remedy Medical Properties<\/strong>, in a joint venture with Kayne Anderson Real Estate<\/strong>, has acquired the Project Prism medical office portfolio, a collection of 13 properties in eight states totaling 300,328 square feet. The fully leased assets traded for $131 million, with the participation of JLL<\/strong>. The previous owner was Montecito Medical Real Estate<\/strong>, CommercialEdge data shows.<\/p>\n

The medical office buildings are leased on a long-term basis with a weighted average lease term of 10.4 years. Remedy CIO Joe Magliochetti stated in prepared remarks that the properties’ tenants have strong patient bases and track records, some of them being nationally renowned companies.<\/p>\n

Optum-Marsh, Halo Breast Center, Jordan Young Institute and Precision Spine Care are some of the health-care providers that occupy the facilities. On-site medical services include orthopedics, neurology, gastroenterology, radiology, imaging and surgery, as well as general spine and pain management, family medicine and other services.<\/p>\n

Previous joint venture acquisitions<\/h2>\n

The Project Prism portfolio is not the first acquisition for the Remedy-Kayne Anderson duo, as the joint venture’s purchasing history dates back to early 2022. In February, the partnership, alongside MedProperties Realty Advisors, formed a $350 million-plus joint venture<\/a> to recapitalize a 23-asset health-care real estate portfolio totaling more than 1 million square feet.<\/p>\n

Later that year, the companies added eight medical office buildings<\/a> to their joint investments. The properties, located in Florida, Texas, North Carolina and Tennessee, changed hands for $91 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Montecito Medical Real Estate sold the fully leased assets.<\/p>\n","protected":false},"author":2829,"featured_media":1004637727,"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":[32796,37279,35085,50434],"class_list":["post-1004637726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-national","category-latest","tag-jll","tag-kayne-anderson-real-estate-advisors","tag-montecito-medical","tag-remedy-medical-properties"],"acf":[],"yoast_head":"\nRemedy, Kayne Anderson Buy $131M MOB Portfolio -<\/title>\n<meta name=\"description\" content=\"Remedy Medical Properties and Kayne Anderson Real Estate acquired 13 medical office buildings for $131 million from Montecito Medical.\" \/>\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\/remedy-kayne-anderson-buy-131m-mob-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remedy, Kayne Anderson Buy $131M MOB Portfolio\" \/>\n<meta property=\"og:description\" content=\"Remedy Medical Properties and Kayne Anderson Real Estate acquired 13 medical office buildings for $131 million from Montecito Medical.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-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=\"2023-01-04T15:00:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-05T13:05:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Precision-Spine_JAN23-e1672835727513.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"934\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\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\/remedy-kayne-anderson-buy-131m-mob-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/\",\"name\":\"Remedy, Kayne Anderson Buy $131M MOB Portfolio -\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Precision-Spine_JAN23-e1672835727513.jpg\",\"datePublished\":\"2023-01-04T15:00:38+00:00\",\"dateModified\":\"2023-01-05T13:05:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Remedy Medical Properties and Kayne Anderson Real Estate acquired 13 medical office buildings for $131 million from Montecito Medical.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-buy-131m-mob-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Precision-Spine_JAN23-e1672835727513.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Precision-Spine_JAN23-e1672835727513.jpg\",\"width\":934,\"height\":700,\"caption\":\"Precision Spine center. 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