Methodist Professional Center II, Indianapolis, IN
INDIANAPOLIS, IN—Healthcare Realty Trust, a New York Stock Exchange-listed REIT, acquired a 143,499-square-foot class A outpatient facility on the academic medical campus of Indiana University Health's Methodist Hospital in downtown Indianapolis. It is the largest hospital complex in the state of Indiana with 1,411 staffed beds. The seller was The Sanders Trust, headquartered in Birmingham, AL, which specializes in the development, acquisition and management of strategic healthcare properties.
Methodist Professional Center II is fully occupied by Indiana University Health and its affiliates. It features the campus's outpatient ambulatory surgery center and cardiovascular specialists.
Mindy Berman, managing director, and Justin Hill of Jones Lang LaSalle Healthcare Capital Markets served as advisors to the seller along with Bruce Gordon. JLL has sold more than 841,000 square feet of healthcare properties in Indiana.
“MPC II is a great example of a highly sought-after, fully occupied, on-campus outpatient facility – fully integrated into Indiana University Health's Methodist Hospital,” Berman tells GlobeSt.com exclusively. Expected growth of patient care and facilities at the campus “enhances the investment value of the medical office building and creates potential for highly prized growth for the investor with the health system,” she says.
The four-story property, built in 1992, occupies 1.4 acres. MPC II is integrally connected to the hospital facility and is a critical component of IU Health's $1 billion project to consolidate clinical operations from University Hospital into the expanded, dynamic and growing facilities of Methodist Hospital and Riley Hospital for Children.
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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].
