March 22, 2019 Comments Off on HFF Closes Sale of Uptown MOB Views: 673 Chicago News, North Side

HFF Closes Sale of Uptown MOB

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HFF has arranged the sale of Lakeshore Medical Center, a 135,093-square-foot medical office building in Uptown, to an institutional investor for an undisclosed price. The firm marketed the Class A MOB on behalf of a partnership between CarVal Investors and Zeller Realty Group.

The HFF investment advisory team representing the seller included Ben Appel, Evan Kovac, Andrew Milne and Matt DiCesare of HFF’s national medical office capital markets team, along with Chicago-based Jeffrey Bramson and Bryan Rosenberg.  Managing director Tim Joyce provided debt advisory services.

The five-story Lakeshore Medical Center is located at 4700 North Marine Dr. It’s attached to the 236-bed Weiss Memorial Hospital, which recently changed hands.

“We expect the recent change in ownership, combined with new equity infusion in the MOB, will result in campus growth and better outcomes for the community,” said Appel.

Post-closing, locally-based MBRE Healthcare will manage Lakeshore Medical Center.

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