HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, finalized the sale of four medical office buildings in Illinois and Wisconsin totaling 107,828 square feet to Irvine, California-based IRA Capital. HSA PrimeCare will continue to manage the assets on behalf of their new owner.
“Our team has enjoyed the challenge of developing and enhancing the value of these medical office buildings over the last decade, and we look forward to continuing to manage these properties on behalf of IRA Capital,” said John Wilson, president of HSA PrimeCare. “With increased development and investor interest in healthcare as an asset, HSA PrimeCare looks forward to continuing our efforts to develop new quality outpatient facilities with our healthcare partners.”
Mike Wilson and Erik Foster of Avison Young represented HSA PrimeCare in the transaction. The portfolio includes investment-grade, hospital-anchored assets that were developed or acquired by HSA PrimeCare. The assets include:
Advocate Good Samaritan South at 6840 Main Street in Downers Grove, Illinois, a 35,011-square-foot outpatient clinic developed by HSA PrimeCare in 2008 and anchored by Advocate Aurora Health.
Hawthorn Surgery Center at 240 Center Drive in Vernon Hills, Illinois, a 15,321-square-foot, freestanding surgery center developed by HSA PrimeCare in 2014 as a build-to-suit for Deerfield, Illinois-based Surgical Care Affiliates.
Advocate Aurora Health Beverly Clinic at 1357 W. 103rd Street in Chicago, a 33,519-square-foot, multi-tenant office building constructed in 1955 and redeveloped by HSA PrimeCare in 2007 to house an Advocate Aurora primary care clinic, as well as a bank.
Advocate Aurora Health Muskego Clinic at S68W15500 Janesville Road in Muskego, Wisconsin, a 24,067-square-foot retail healthcare clinic offering OB/GYN and radiology services, bought by HSA PrimeCare in 2012.