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CNL Acquires Five More MOBs

CLEVELAND—This $59.5 million national acquisition comes on the heels of the investment offering's string of healthcare real estate purchases in Tennessee and Indiana.

By Brian J. Rogal | Updated on September 03, 2013

CLEVELAND—CNL Healthcare Properties, Inc.  has just acquired five more medical offices buildings from across the country, including the Cleveland Clinic Chestnut Commons Medical Office Building in suburban Elyria, and one specialty hospital, for $59.5 million from a collection of limited liability corporations.

The big purchase continues a string of recent healthcare acquisitions by the Orlando-based investment offering. In this year alone, CNL has acquired four medical office and healthcare-related facility portfolios, including the July acquisition of four medical office buildings in or near Knoxville. And in June, they bought the LaPorte Cancer Center in Westville, Indiana. In total, the company has now invested $149.7 million in 12 medical facilities.      

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