Medical real estate developer and investor Meridian has sustained healthy investment activity in 2020, despite the market shift. The firm's investment activity was on par with 2019 activity; however, the firm shifted from a focus on ground-up development to repositioning projects.

"Meridian has carved a niche in the market where we have been successful in repositioning buildings in a way that allows us to provide greater access to care for our clients at better lease rates than they would pay for new ground-up building space," John Pollock, CEO of Meridian, tells GlobeSt.com.

At the close of the year, Meridian acquired El Dorado Medical Plaza. The property is 187,690-square-foot, three-story class-B medical office building with a surgery center and hospital located in Tucson. The property is occupied by three tenants, including the Tucson Medical Center. In accordance with its strategy, the firm plans to make capital improvements to drive value in the property.