September 21, 2017
MedProperties Holdings, headquartered in Dallas, struck a deal with Harrison Street to acquire the latter’s 17-property healthcare portfolio. MedProperties is paying $230 million for the assets, which consist of properties in 10 states, totaling 620,750 square feet. The buyer has closed on 15 of the assets, and will close on the remaining two in Q4 2017.
CBRE’s Chris Bodnar and Lee Asher represented the seller. Senior debt financing for the acquisition was secured through Erik Tellefson and Jon Buehner of Capital One. David Selznick and Andrew Smith with Kayne Anderson arranged for the acquisition’s mezzanine debt.
The portfolio consists of a mix of medical office buildings, in-patient rehabilitation facilities, a behavioral health hospital and a multi-use campus with a surgery center and rehab hospital. Properties are in Florida, Kentucky, Missouri, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Wisconsin and Texas. Seven of the properties are in Texas.
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