Madison Street Group has closed the sale of the Whitewater Eye Centers real estate portfolio in Indiana and Ohio to Montecito Medical Real Estate.
Investment Highlights:
- The portfolio consists of three MOBs with one ambulatory surgery center and one administrative building, totaling about 31,893 rentable square feet.
- The portfolio is 100% leased to Whitewater Eye Centers, an eye care provider with a regional brand, patient census data and financial profile.
- The portfolio average historical occupancy is equal to 18 years.
- All but one of the properties are located less than a mile from a Reid Health hospital.
- The portfolio sits between four major Indiana and Ohio MSAs, including Indianapolis, Dayton, Cincinnati and Columbus.
- Strong tenant investment: Whitewater Eye Centers has contributed more than $1.4 million to building improvements and FF&E in the last four years.
