Jerry Jacobs and Larry Downey, senior directors with Cushman & Wakefield of Arizona Inc., represented Crescent Real Estate in the sale. Craig Collins of Commercial Kentucky Inc. represented Medical Risk Managers in the transaction.

Jacobs and Downey were hired last summer to dispose of the Charter Behavioral Health portfolio, which is valued at roughly $23 million. Charter went bankrupt in 1999. The nine properties, which average 50,000 sf and contain an aggregate 511,171 sf, are located in Florida, Georgia, Kansas, Texas and Wisconsin, as well as Indiana. All but the Wisconsin property are currently under contract, Jacobs tells GlobeSt.com. "Because they're targeted toward a specific type of user, the market's been pretty good for this kind of property," he notes.

In October, the brokerage team reported the $4.4-million sale of two Charter properties: Warm Springs Rehabilitation of San Antonio, TX purchased a 61,000-sf facility in Corpus Christi for $1.1 million; and Ramsay Hospital Properties Inc. of Coral Gables, FL acquired a 73,000-sf facility in Macon, GA for approximately $3.3 million.