KAMCO Investment company acquired Cincinnati Children’s Hospital Operation Center at 400 Oak Street and 2905 Vernon Place in Cincinnati.
KAMCO concluded the acquisition of the 302,000-square-foot, Class-A facility in collaboration with the Chicago office of 90 North, an investment advisory firm headquartered in London.
The two-building property includes Vernon Manor, a 156,000-square-foot office tower; Vernon Place, a 146,000-square-foot office tower; and two parking lots totaling 1,529 parking spaces.
The transaction is valued at $75.3 million. The series of Class-A properties is fully leased to Cincinnati Children’s Hospital through 2032, with extension options for two five-year terms. The acquisition is a continuation of 90 North’s strategy to invest in high-end properties in secondary U.S. markets. These acquisitions are considered low-risk, high-return investments.
