Ventas Buys Outpatient Facility for $81M
The 125,942-square-foot building is fully occupied by Duke Health.
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.