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Rush-Copley Sells Two Buildings in $7M Deal

AURORA, IL-Indianapolis-based Windrose Medical Properties Trust pays $172 per sf for two buildings here and in nearby Yorkville that are 100% leased. The deal more than doubles the medical office REIT's area holdings.

By Mark Ruda | Updated on June 27, 2005

AURORA, IL-Indianapolis-based Windrose Medical Properties Trust has found its second and third properties in the suburban Chicago market, acquiring 40,101 sf office space from Rush-Copley Medical Center for $6.9 million. In addition to a medical office near Fox Valley shopping center, the REIT specializing in medical office properties picked up a two-story asset in nearby Yorkville.

The 20,216-sf building in Aurora cost Windrose Medical Properties $4.1 million. The two-story building, near a 31,244-sf asset it already owns at 1900 Ogden Ave., is 100% occupied. Likewise, the 19,885-sf building in Yorkville has no vacancy, and the seller occupies 84% of the space. Windrose Medical Properties got a mortgage for two-thirds of the $2.8 million purchase price.

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