{"id":1004690747,"date":"2023-11-16T03:35:15","date_gmt":"2023-11-16T11:35:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004690747"},"modified":"2023-11-16T03:35:18","modified_gmt":"2023-11-16T11:35:18","slug":"remedy-kayne-anderson-pay-71m-for-chicago-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/","title":{"rendered":"Remedy, Kayne Anderson Pay $71M for Chicago MOB"},"content":{"rendered":"
\"RUSH<\/a>

RUSH Oak Brook Medical Center came online in 2018 as a build-to-suit. Image courtesy of Remedy Medical Properties<\/em><\/p><\/div>\n

Remedy Medical Properties<\/strong>, in a joint venture with Kayne Anderson Real Estate<\/strong>, has acquired RUSH Oak Brook Medical Center, a 93,386-square-foot medical office building in Chicago. The asset traded for $71 million, according to Crain\u2019s Chicago Business<\/em>. Rush Health<\/strong> sold the LEED Gold-certified property in a sale-leaseback transaction.<\/p>\n

RUSH Oak Brook came online in 2018 on 3.5 acres. The three-story building features a two-story atrium main lobby, a seating lounge, two passenger elevators, a fitness center and controlled access. The medical facility comprises a multi-specialty surgery center with six operating rooms, two procedure rooms, 28 patient bays, 65 exam rooms, outpatient surgical suites, an imaging center and in-house lab services.<\/p>\n

\n

READ ALSO:<\/strong> MOB Sector Remains Stable, Attractive<\/a><\/p>\n

\n

Boasting a 99 percent occupancy, the property is leased long-term to RUSH University System for Health and Midwest Orthopaedics at RUSH, a division of OrthoMidwest. Medical services provided include physical therapy and rehabilitation, neurosurgery, OB\/GYN, dermatology, pain management, gastroenterology and primary care, among others.<\/p>\n

The medical center is at 2011 York Road, less than 20 miles from downtown Chicago and has access to interstates 88 and 294. The surrounding area includes several other health-care providers, such as Elmhurst Hospital, Hines VA Medical Center, Cardio Medical Center and Loyola University Medical Center.<\/p>\n

Partnership deals in 2023<\/h2>\n

The partnership between Remedy Medical and Kayne Anderson kicked off 2023 with the acquisition of a collection of 13 medical office assets<\/a> totaling 300,328 square feet. Montecito Medical sold the portfolio for $131 million.<\/p>\n

More recently, the joint venture purchased two medical office buildings<\/a> in Fayetteville, Ga. The facilities were acquired from Piedmont Healthcare through a 70-year ground lease with a 15-year extension option.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 93,386-square-foot property came online in 2018.<\/p>\n","protected":false},"author":2829,"featured_media":1004690748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,21754,13,21742],"tags":[37279,32779,50434],"class_list":["post-1004690747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-medical-office","category-midwest","category-latest","tag-kayne-anderson-real-estate-advisors","tag-leed","tag-remedy-medical-properties"],"acf":[],"yoast_head":"\nRemedy, Kayne Anderson Pay $71M for Chicago MOB - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Remedy Medical Properties and Kayne Anderson Real Estate acquired Oak Brook Medical Center, a medical office asset in Chicago.\" \/>\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-pay-71m-for-chicago-mob\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remedy, Kayne Anderson Pay $71M for Chicago MOB\" \/>\n<meta property=\"og:description\" content=\"Remedy Medical Properties and Kayne Anderson Real Estate acquired Oak Brook Medical Center, a medical office asset in Chicago.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/\" \/>\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=\"2023-11-16T11:35:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-16T11:35:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Rush_Oak_Brook_2011_York_Rd_Oak_Brook_IL_03-e1700130697961.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1028\" \/>\n\t<meta property=\"og:image:height\" content=\"788\" \/>\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-pay-71m-for-chicago-mob\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/\",\"name\":\"Remedy, Kayne Anderson Pay $71M for Chicago MOB - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Rush_Oak_Brook_2011_York_Rd_Oak_Brook_IL_03-e1700130697961.jpg\",\"datePublished\":\"2023-11-16T11:35:15+00:00\",\"dateModified\":\"2023-11-16T11:35:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Remedy Medical Properties and Kayne Anderson Real Estate acquired Oak Brook Medical Center, a medical office asset in Chicago.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/remedy-kayne-anderson-pay-71m-for-chicago-mob\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Rush_Oak_Brook_2011_York_Rd_Oak_Brook_IL_03-e1700130697961.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Rush_Oak_Brook_2011_York_Rd_Oak_Brook_IL_03-e1700130697961.jpg\",\"width\":1028,\"height\":788,\"caption\":\"Oak Brook Medical Center is currently 99 percent occupied. 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