Real Estate Journal — Pennsylvania — January 17 - 30, 2020 — 7A
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M id A tlantic
P ennsylvania Located in Pennsylvania, Illinois, Minnesota and Virginia CBRE completes sale of nine building MOB portfolio
HILADELPHIA, PA — CBRE has complet- ed the sale and financ- ing of a nine-building medical office portfolio totaling 470,000 s/f located in four states. Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger of CBRE’s Health- care Capital Markets team served as advisors for the transaction and sourced the buyer for the portfolio sale. Additionally, Sabrina Solo- miany of CBRE’s Debt & Structured Finance group worked on behalf of the buyer to secure the financing. The buyer, a confidential entity, purchased the property in a sale that closed December 13, 2019. “This portfolio offered the opportunity to buy a critical mass of medical assets with exposure to some of the top health systems in the country, including Advocate Aurora Health, Einstein Health and INOVA Health System,” said Chris Bodnar , vice chairman of Capital Markets for CBRE. The nine-building portfolio included the 95,043 s/f Advo- cate Sherman Medical Build- ing in Elgin, IL, the 36,413 s/f Oak Lawn Medical Building in Oak Lawn, IL, the 60,558 P
Einstein Medical Building in East Norriton, PA
s/f High Pointe Health Cam- pus in Lake Elmo, MN., the 71,685 s/f Einstein Medical Building in East Norriton, PA, the 35,405 s/f Sterling Medi- cal Building in Sterling, VA., 118,081 s/f across Pavilion I & II in Duluth, MN., and 52,105 s/f across CentreMed I & II in Centreville, VA. The portfolio featured over five years of weighted average lease term (WALT). Solomiany marketed the debt to various life insurance companies, banks and debt funds. The buyer ultimately decided to bifurcate the port- folio into two separate portfo- lio loans to achieve the best terms.
Pennsylvania
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