Robert Lynn Investments (RLI), a Dallas-based commercial real estate investment company, announced the purchase of a 23,346-square-foot dialysis center and clinic at 10120 Calumet Ave. in Munster, Indiana, just 30 minutes from Chicago.
It’s the first acquisition for Med Strategy Fund l, a $30-million equity fund dedicated to the aggregation of medical properties. RLI, the investment division of NAI Robert Lynn, is the fund sponsor.
Med Strategy Fund I is national in scope, with a goal to aggregate more than $90 million of medical properties. The properties are stabilized and strategically located within medical submarkets to produce current yield to be distributed quarterly.
American Renal Associates, one of the largest dialysis services providers in the United States, is the primary tenant in the medical fund’s first acquisition. The build-to-suit, Class-A property is new construction in a prime location. Munster is part of the Chicago medical submarket, which is near two major hospitals and serves Chicago and three surrounding Indiana counties.
Frank Roti of Marcus & Millichap in Chicago represented the seller and primary tenant in the deal. Med Strategy Fund l represented itself in the transaction.