September 2, 2020
Toronto-based Mohawk Asset Management Corp., a private equity and alternative asset management firm specializing in healthcare real estate, acquired the Countryside Medical/Professional Office Building in Palatine, IL. The acquisition for an undisclosed sum was financed by an amortizing bank mortgage at 3.9% for a five-year term.
The 112,000-square-foot, fully leased medical/professional building’s 45 tenancies include pediatric therapy, behavioral health, home health, chiropractic, telemedicine, dentistry, law, accounting, architecture, engineering and insurance firms.
The Palatine asset is Mohawk’s second Chicago-area acquisition. Its portfolio also includes an MOB in Chicago’s Portage Park neighborhood.
This acquisition represents a continuation of Mohawk’s cross-border investment platform, Mohawk America, which invests in U.S. healthcare real estate with cash flow stability and growth potential, syndicated to Canadian investors. Mohawk anticipates closing on future opportunities in Chicagoland this year.
The property will be managed by Mohawk Medical Management Corp.
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