NorthWest Healthcare Properties REIT acquired the 27-property
portfolio totaling 1.2M SF of medical
office and hospital buildings
CHICAGO, April 19,
2022 /PRNewswire/ -- JLL's Healthcare Capital Markets
group announced today that it has closed the $600 million sale of a 27-property,
best-in-class, core-quality healthcare real estate portfolio
totaling 1.2 million square feet in Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas markets.
JLL marketed the portfolio on behalf of the seller, Harrison
Street. NorthWest Healthcare Properties acquired the assets.
"Harrison Street is proud to have partnered once again with
JLL's Healthcare Capital Markets team to execute the sale of this
complex portfolio spanning multiple medical sub-sectors and U.S.
states," said Ben Mohns, Senior
Managing Director and Head of North American Asset Management at
Harrison Street. "The successful sale of these diversified
healthcare assets reinforces the strength of Harrison Street's
ongoing partnership with JLL, and the portfolio execution ability
of our talented team who have worked diligently to execute on
behalf of our investors."
The portfolio has a mix of 15 medical office buildings, five
micro-hospitals, four behavioral hospitals, two inpatient
rehabilitation hospitals, and one heart and surgical hospital. The
portfolio includes nine properties in Arizona; five properties in Texas and Illinois; two properties in Florida and one property each in Minnesota, Massachusetts, California, Oklahoma, Colorado and Indiana.
The portfolio is 97% occupied by key healthcare providers,
including Advocate Aurora Health, Rush
University Medical Center, Memorial Hermann, Ascension,
Banner Health, Tenet Health, Lutheran Health Network, Baylor Scott & White Health and
Edward-Elmhurst Healthcare.
The JLL Healthcare Capital Markets team representing the seller
was led by Senior Managing Directors Mindy
Berman, Evan Kovac,
Andrew Milne and Brian Bacharach and
Managing Directors Tim Joyce and
Brannan Knott, with support from
Vice Presidents Trent Jemmett and CJ
Kodani. Local support was provided by JLL licensed brokers in each
location.
"The offering was well received due to its scale and the mix of
medical office and acute care facilities," Berman said. "Healthcare
assets have seen increased investor interest, as the sector offers
long-term leases with quality tenants that provide steady income to
landlords."
The JLL Capital Markets group is a full-service global provider
of capital solutions for real estate investors and occupiers. The
firm's in-depth local market and global investor knowledge delivers
the best-in-class solutions for clients — whether investment sales
and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than 3,000 Capital Markets specialists worldwide
with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please
visit our newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate
broker licensed with the California Department of Real Estate,
license #01223413.
About Harrison Street
Harrison Street is one of
the leading investment management firms exclusively focused on
alternative real assets. Since inception in 2005, the firm has
created a series of differentiated investment solutions focused on
demographic-driven, needs-based assets. The firm has invested
across senior housing, student housing, healthcare delivery, life
sciences and storage real estate as well as social and utility
infrastructure. Headquartered in Chicago with offices in London, Toronto, San
Francisco and Washington D.C., the firm has
more than 200-employees and approximately $44 billion in assets under management. Clients
of the firm include a global institutional investor base domiciled
in North America, Europe, Middle
East, Asia and Latin America. Harrison Street was awarded
Best Places to Work by Pensions & Investments for seven
consecutive years (2014-2020) and was recognized by PERE
as the 2021 Alternatives Investor of the Year, North America and 2020 Global Alternatives
Investor of the Year. For more information, please visit
www.harrisonst.com.
About NorthWest Healthcare Properties
("NorthWest")
NorthWest is a global real estate
investor and asset manager focused on properties and partnerships
at the intersection of healthcare, knowledge and research. Founded
in 2004 and publicly traded since 2010, NorthWest
(TSX: NWH.UN) is a real estate
investment trust that owns and operates a $10 billion portfolio of 224 high quality
healthcare properties across Canada, the United
States, Brazil, the UK,
Germany, the Netherlands, Australia and New
Zealand. With more than 300 professionals globally,
operating in 7 countries, NorthWest brings a global
view, local execution capabilities and a long-term ownership
strategy which allows it to serve as a real estate partner of
choice to leading healthcare operators around the world.
About JLL
JLL (NYSE: JLL) is a
leading professional services firm that specializes in real estate
and investment management. JLL shapes the future of
real estate for a better world by using the most advanced
technology to create rewarding opportunities, amazing spaces and
sustainable real estate solutions for our clients, our people and
our communities. JLL is a Fortune 500 company with
annual revenue of $19.4 billion in
2021, operations in over 80 countries and a global workforce of
more than 98,000 as of December 31,
2021. JLL is the brand name, and a registered
trademark, of Jones
Lang LaSalle Incorporated. For
further information, visit jll.com.
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Contact: Cierra Lacasse, JLL Associate, Public
Relations
Phone: +1 602 648 8701
Email:
Cierra.Lacasse@am.jll.com
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SOURCE JLL