JV Acquires $114M Medical Office Portfolio

LOS ANGELES-A joint venture between NexCore Group LP and Heitman LLC has acquired a 671,811-square-foot medical office portfolio for $114 million. The portfolio has 13 buildings in California and Arizona, including several buildings occupied by Dignity Health, the nation’s fifth largest healthcare provider.

“With the resurgence in the Arizona and California real estate markets and with the continued growth in the healthcare sector, we are excited to manage this portfolio,” says Greg Venn, CEO of NexCore Group. “We will bring new capital improvements to the project and a new pride of ownership that reflects the quality tenancy in the buildings.”