NFL Legend's Firm Pays $34M for MOB Portfolio

[IMGCAP(1)]APPLETON, WI-The Sanders Trust has acquired a five-building medical office portfolio for $34 million from ThedaCare, a healthcare provider based in Fox Valley, WI. The 225,000-sf package is 98% leased.

The portfolio consists of the Medical Office Building West, Medical Office Building South and Appleton Heart Institute, all located on the Appleton Medical Center campus at 1818 N. Mead St. in Appleton, WI, and the Medical Office Pavilion at 200 Theda Clark Memorial Plaza at the Theda Clark Medical Center in Neenah, WI. The portfolio also includes two upper floors of the Aylward Surgery Center at 100 Theda Clark Memorial Plaza, says Rance M. Sanders, CEO of Birmingham, AL-based Sanders Trust.

The portfolio sold for close to $151 per sf, which is a “good bit below replacement cost,” Sanders says. All buildings are attached to hospitals, which makes it an attractive acquisition as well as attractive for patients and clients, given the Wisconsin winters, he explains.