July 26, 2019
A joint venture between Caddis and a client of Invesco Real Estate has acquired the 41,205- square-foot Hand to Shoulder Center in Indianapolis. Deal terms weren’t disclosed.
The single-tenant medical office building (MOB) and ambulatory surgery center at 8501 Harcourt Rd. is the headquarters for 10 additional Hand to Shoulder locations throughout the Indianapolis area. Hand to Shoulder physicians, staff and services will continue to occupy the building.
Chris Morgan, manager of acquisitions at Dallas-based Caddis, said, “Since its founding in 1971, the Center has grown and succeeded and now serves more than 50,000 patients annually. It is also ideally located at the entrance of the main campus of St. Vincent/Ascension Hospital. This was a very attractive opportunity for Caddis and our joint venture partnership.”
BMO Harris Bank’s Healthcare Real Estate Finance group provided financing for the project.
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