MBRE Pays $131M for 9 Medical Buildings

CHICAGO—A joint ventured fund managed by MBRE Healthcare has just bought a nine-building, 401,428 square-foot medical office portfolio in the Chicago region for $131 million from a group of physicians and a local developer. Many of the properties are located in affluent North Shore markets, and like many healthcare portfolios that hit the market these days, it attracted intense interest from investors across the US.

“We have an abundance of capital that is targeting healthcare real estate due to the strong fundamentals in healthcare right now,” Gino Lollio, associate vice president investments with Marcus & Millichap’s healthcare real estate group, tells GlobeSt.com. Along with John Smelter, senior director, and Scott Niedergang, associate vice president investments, Lollio procured the buyer and represented the seller, a partnership that includes physicians affiliated with Illinois Bone and Joint Institute, which anchors the portfolio.