Indianapolis

The merger, which was effective on July 1, will have the combined company operate under the Cresa name. All employees of both firms were retained.

The company adds the Dallas and Indianapolis acquisitions to its 49 property $250 million portfolio.

The firm commenced construction earlier this month on the initial two speculative buildings of 436,800 square feet and 168,480 square feet at the Whiteland Exchange development, which are slated for delivery in the first quarter of 2020.

NHI, headquartered in Murfreesboro, TN is the managing member and will own 97.5% of the joint venture equity and Bonita Springs, FL-based Discovery will own 2.5%.

Last month, Brightmark closed a $260-million financing package for the construction of the plant, which includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co.

“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," says JLL's Mindy Berman.

In the aggregate, the four buildings are 87.7% leased and were acquired at an average capitalization rate of 5.3%. The properties expand Healthcare Realty's presence in three of its top markets and extend its relationships with three market leading, investment-grade health systems.

The market is beginning to segment senior housing development in terms of income and affordability, says Key Bank's Lee Delaveris. Listen to our exclusive audio interview.