Real Estate Journal — October 11 - 24, 2019 — 19A
www.marej.com
M id A tlantic
M id A tlantic R eal E state J ournal
EW YORK, NY — Ancho r He a l t h Propert ies (An- Capital One provides debt financing Anchor Health Properties furthers presence in New York City MSA with 232,000 s/f investment N Anchor.
Anchor Health Properties will provide property manage- ment services on the campus through its regional operations office with Anchor’s Jason Bernheimer and Jay Buck- ley taking the lead. Anchor’s dev 0elopment team, led by MatthewPirolli, will oversee the significant capital improve- ments planned for the campus. Capital One provided debt financing on this transaction and Jones Lang LaSalle pro- vided sales advisory services to the sellers of the buildings.
chor) a national, full service healthcare real estate devel- opment, management, and investment company focused exclusively on medical facili- ties, recently acquired two in- stitutional quality, five story medical and commercial office buildings totaling 230,000 s/f. Located in the Harrison sub- market of Westchester County, New York, the transaction was made via a joint venture with an institutional equity capital partner. With direct access to the Hutchinson River Parkway, 550 & 600 Mamaroneck Ave. have experienced a migration of tenancy over time towards a clinical medical use. The facilities are now anchored by Scarsdale Medical Group, a multispecialty subsidiary of White Plains Hospital (Mon- tefiore Health System) and are strategically positioned to accommodate further growth of clinical medical tenancy over time given a growing demand for medical space and a limited supply of the same in eastern Westchester County. In combi- nation with a planned capital renovation of more than $6M, Anchor intends to execute a significant improvement to the campus that will modern- ize wayfinding, entranceways, building systems, and overall image to best position the as- sets as class A medical build- ings as well as enhance the patient experience. Anchor’s chief executive officer Ben Ochs said, “These assets are uniquely situated to allow fur- ther medical office expansion in the eastern Westchester Market, one of the most af- fluent suburbs in the country. We are very pleased with our growing presence in the great- er New York City metropolitan area and the opportunity to work with best in class provid- ers, such as Scarsdale Medical Group. The acquisition of these facilities increases the size and diversity of our portfolio, and further reinforces our national capabilities as an industry leader in healthcare real estate nationwide.” “This investment opportunity drives at the heart of Anchor’s ability to create value in core operational mar- kets where our local presence allows us to hit the ground run- ning,” said James Schmid , chief investment officer with
550 & 600 Mamaroneck Ave.
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