April 13, 2018 Comments Off on Invesco, Caddis Form $1B MOB JV Views: 2077 Georgia, National News, Southeast

Invesco, Caddis Form $1B MOB JV

Atlanta-based Invesco Real Estate and Dallas-based Caddis formed a strategic joint venture to take advantage of the strong medical office building market. Invesco made a significant equity commitment for investment in future MOB acquisitions through a joint venture formed with the Caddis Acquisition Fund I that is sponsored by Caddis.

The plan is to combine Invesco’s commitment with equity provided by Caddis Acquisition Fund I to allow the joint venture to acquire up to $1 billion in core and core-plus healthcare real estate assets across the country during the next three to five years. Invesco is investing on behalf of its direct investment program.

When the fund first closed last November, a simultaneous contribution to the joint venture enabled the partnership to acquire a $111-million 12-asset portfolio across “sunbelt” markets. Subsequently, the partnership has acquired three additional MOBs for $56 million, bringing the four-state portfolio to 15 medical real estate assets.

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*Pictured Prairie View Medical Plaza in Dallas suburb of Flower Mound, TX

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