November 3, 2020
Chicago-based Harrison Street sold a portfolio of nine medical office buildings and inpatient rehabilitation facilities valued at $213 million to Lincoln Advisors, a Lincoln Property Company affiliate that’s also based in Chicago and which purchased the assets on behalf of a public pension fund client.
The properties were held across Harrison Street’s Opportunity Fund series and were part of an ongoing joint venture between Harrison Street and Birmingham, AL-based The Sanders Trust.
“This transaction is the latest example of our successful partnership with The Sanders Trust,” said Ben Mohns, head of asset management – North America for Harrison Street.
The properties are located across Texas, Ohio, Maryland, Georgia, Mississippi and Iowa, and comprise approximately 394,606 square feet. The portfolio’s 100% leased assets were acquired over the past three and a half years.
CBRE’s Chris Bodnar and Lee Asher represented The Sanders Trust and Harrison Street on the transaction.
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