July 23, 2020
White Plains, NY-based Seavest Healthcare Properties LLC acquired the newly built 52,000-square-foot Martin Luther King (MLK) Jr. Community Hospital medical office building on the campus of the MLK Jr. Community Hospital in Willowbrook, south of DTLA. Trammell Crow Company sold the asset for $43.25 million.
The two-story MOB property at 12021 S. Wilmington Ave. is ideally located at the gateway entrance to a recently constructed $1-billion-plus medical campus that includes the 131-bed Martin Luther King Jr. Community Hospital, a not-for-profit acute-care provider, as well as other services. The MOB is fully leased to MLK Los Angeles Healthcare Corporation, the not-for-profit organization formed by the county to operate the new hospital campus.
Seavest’s Jonathan “John” Winer indicated this “core acquisition” is part of the firm’s latest fund, Seavest Properties V.
CBRE’s Chris Bodnar and Lee Asher brokered the sale.
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