Welltower Buys Columbia Outpatient Facility For $80M
The asset is located on the campus of Johns Hopkins Health System's Howard County General Hospital.
COLUMBIA, MD–JLL has brokered the $80 million sale of a 160,000-square-foot outpatient facility on the campus of Johns Hopkins Health System’s Howard County General Hospital here. The healthcare REIT Welltower acquired the property, called the Medical Pavilion at Howard County.
Managing Director Mindy Berman, Vice President Brannan Knott and Senior Vice President Gary Applestein led the team handling the sale on behalf of the seller, Ten Acres Business Trust.
“This is a Class A facility on the only hospital campus in the fourth wealthiest county in the nation and carries significant anchor tenancy by Johns Hopkins Medicine, a world-renowned and highly rated academic health system,” said Berman. “The property is a highly attractive investment for the institutional market and garnered substantial core interest.”
The five-story LEED Silver medical facility sits on 10 acres, was built in 2009 and is the newest building on Johns Hopkins Health System’s Howard County General Hospital campus. The facility has a cancer care center and multiple surgery centers as well as surplus land suitable for development.