DURHAM, NC-Ventas has acquired a 125,942-square-foot outpatient facility here for $80.5 million. The seller is the Private Diagnostic Clinic, the 1,800-member faculty physician affiliate of Duke Health.
JLL's Mindy Berman served as the exclusive advisor to the seller.
The five-story facility was constructed in 2018 to consolidate 14 critical subspecialties of the Duke Health enterprise in the Southpoint submarket of Durham. The outpatient center is the largest off campus facility in the Duke Health outpatient network and houses practices in neurology, cardiology, ophthalmology, OB/GYN, pediatrics and primary care. The PDC and Duke University Health System occupy the entire property under long-term net leases.
Berman reports that Duke Health Center South Durham was highly sought after by top institutional investors.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
