HealthSouth Rehabilitation Hospital, Sherman Ave., Vineland, NJ
OAK BROOK, IL—Inland Real Estate Acquisitions acquired three medical office buildings located in New Jersey, Illinois and Wisconsin, on behalf of an Inland affiliate. The acquisitions total 127,481 square feet of medical office space and have a cumulative purchase price of approximately $58 million.
The properties include a 41-bed rehabilitation hospital in Vineland, NJ, a cancer-related and blood disorder treatment facility in Illinois and an orthopedic surgery, gastroenterology and sports medicine and rehabilitation center in Wisconsin.
Joe Cosenza, vice chairman of The Inland Real Estate Group and president of Inland Acquisitions, along with Mark Cosenza and Matthew Tice, both senior vice presidents of Inland Acquisitions, are responsible for completing the purchases, with assistance from David Neboyskey and Brett Smith, vice presidents of The Inland Real Estate Group law department.
“All three properties feature long-standing and established medical practitioners, underscoring each facility's importance and demand in their communities,” says Tice.
“Desirable medical office properties located in markets with strong demographics are the types of attractive acquisition opportunities we continue to seek for the remainder of 2018 and into next year,” says Mark Cosenza.
To date, Inland Acquisitions has completed the acquisition of 42 medical office properties throughout the United States, for a total purchase price of more than $479 million.
“As demographic trends shift and healthcare needs grow, high quality medical office properties will continue to be a significant area of focus in our acquisition strategy,” says Joe Cosenza.
Since its inception, Inland Acquisitions has facilitated more than $46 billion of purchases including single-tenant properties, medical office buildings, apartments and retail properties.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
