Bill Dagar, TCC's SVP of acquisitions, declined to disclose either the acquisition price or rental rates. According to a second-quarter report from the Chicago office of CB Richard Ellis, the average asking rental rate for office space in this East-West suburban submarket ranges between $13.50 per sf and $18 per sf.

Dagar tells GlobeSt.com the portfolio is 94% leased. The larger building contains approximately 120,000 sf and was built in 1984. The smaller, nearly 50,000-sf building was completed in 1981. The two assets include an ambulatory surgery center and imaging center in addition to office space for doctors. They are located within a mile of the 426-bed Adventist Hinsdale Hospital, and Adventist occupies 30% of the space in the buildings. Dagar says the Chicago TCC office will manage the facilities.

PHT is a fund that was formed to acquire on-campus medical office buildings and is led internally by Dagar and TCC managing director Thomas McNearney, both of whom are located in the Dallas office. PHT works with Trammell Crow Healthcare Services and the TCC field offices to identify and acquire medical office opportunities. TCHS currently has a pipeline of medical office developments in Dallas/Fort Worth, Chicago, Houston, Washington, DC and Raleigh, NC, which it intends to acquire during the next 12 months.