Vice President Christian Vaughan of Northmarq’s National Healthcare Group brokered the $13.5 million sale leaseback of two outpatient primary care properties in Noblesville, Indiana. The seller was Riverview Hospital, and the buyer was Four Corners Property Trust.
The portfolio totals 32,744 square feet and includes Riverview Health’s Noble Creek (205 Noble Creek Drive) and Westfield (865 Westfield Road) locations.
Riverview Health is a non-profit, community-based health system comprised of two hospitals, freestanding combined ER and urgent care facilities, as well as primary, immediate and specialty care facilities.
The tenant operates on long-term, triple net leases, and the transaction was priced at a 7.3% cap rate.
