JLL’s Healthcare Capital Markets group has closed the $600 million sale of a 27-property, core-quality healthcare real estate portfolio totaling 1.2 million square feet in Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas markets.
JLL marketed the portfolio on behalf of the seller, Harrison Street. NorthWest Healthcare Properties acquired the assets.
The portfolio has a mix of 15 medical office buildings, five micro-hospitals, four behavioral hospitals, two inpatient rehabilitation hospitals, and one heart and surgical hospital. The portfolio includes nine properties in Arizona, five properties in Texas and Illinois, two properties in Florida and one property each in Minnesota, Massachusetts, California, Oklahoma, Colorado and Indiana.
The portfolio is 97% occupied by key healthcare providers, including Advocate Aurora Health, Rush University Medical Center, Memorial Hermann, Ascension, Banner Health, Tenet Health, Lutheran Health Network, Baylor Scott & White Health and Edward-Elmhurst Healthcare.
The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Mindy Berman, Evan Kovac, Andrew Milne and Brian Bacharach and Managing Directors Tim Joyce and Brannan Knott, with support from Vice Presidents Trent Jemmett and CJ Kodani. Local support was provided by JLL licensed brokers in each location.