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Crescent Sells 71,456-SF Hospital

JEFFERSONVILLE, IN-The facility is part of a 511,171-sf portfolio of medical assets formerly occupied by Charter Behavioral health, which went bankrupt in 1999. The buyer is locally based Medical Risk Managers & Consultants Inc.

By Glen Thompson | Updated on March 12, 2003

JEFFERSONVILLE, IN-Fort Worth, TX-based Crescent Real Estate Equities has disposed of a third property in its nine-asset Charter Behavioral Health portfolio. Crescent’s latest sale is a $2-million deal with locally based Medical Risk Managers & Consultants Inc., which acquired a 71,456-sf Charter Hospital facility here.

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.

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