Davis acquired a two-building outpatient medical portfolio occupied by ORA Orthopedics in the Quad Cities metropolitan area. The Class-A portfolio totals 51,856 square feet across properties in Davenport, Iowa and Silvis, Illinois.
The approximately $19 Million acquisition expands Davis’ footprint in both Iowa and Illinois. It also establishes a long-term relationship with ORA Orthopedics, the leading independent orthopedic and sports medicine practice in the Quad Cities. The portfolio is 100% leased to ORA under a new 15-year, triple-net master lease.
ORA Orthopedics includes more than 30 fellowship-trained physicians and provides orthopedic, spine, sports medicine, imaging, physical therapy, pain management and occupational medicine services throughout eastern Iowa and western Illinois.
The Davenport facility serves as one of ORA’s flagship locations and includes physician clinics, MRI and X-ray imaging, physical therapy and OrthoCARE walk-in services. The Silvis facility provides comprehensive orthopedic and sports medicine clinics, advanced imaging, physical therapy and rehabilitation services.
The acquisition reflects Davis’ continued focus on Class A outpatient medical properties occupied by leading physician groups and healthcare providers. The transaction further expands the company’s presence in the Midwest while adding two strategically located assets supported by long-term tenancy and established clinical operations.
Less than 45 days ago, Davis, acquired a four-building outpatient medical and clinic portfolio from Minneapolis-based Lakeview Clinics in a sale leaseback transaction involving locations in Waconia, Norwood, Chaska and Watertown.
