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December 17, 2020 Comments Off on Davis Launches Investment Fund with Buy of Eight MOBs Views: 1074 National News

Davis Launches Investment Fund with Buy of Eight MOBs

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Minneapolis-based Davis launched its new medical real estate investment fund with a series of 13 transactions totaling 536,362 square feet and $194 million in value.
 
Davis Medical Investors, LLC closed on the acquisitions of eight medical office buildings totaling 309,735 square feet during the first two weeks of December for a total of $112 million. Three of the properties were sold into the fund from existing Davis-affiliated partnerships, while five were newly acquired from third parties.  
 
The eight properties are in Tennessee (three), Minnesota (three), Ohio and Connecticut. The Tennessee and Connecticut acquisitions are Davis’ first in those states.

“This is just the start of what we expect will be a fund of 20-plus medical office buildings totaling up to $240 million,” said Mark Davis, founder and managing partner of the national healthcare real estate development, property management, brokerage and investment firm.
 
He added, “We are looking for $125 million of medical building acquisitions in 2021, and we’re highly motivated, flexible and quick in closing on these assets.”

The capital behind the new Davis Medical Investors Fund included long-time Davis partners as well as the participation of a strong Davis institutional partner. Capital One is providing the financing for the new fund. 

Pictured: The Urology Group MOB in Cincinnati.

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