Real Estate Deals

The three-story class-A medical office building is 67,510 square feet and was 88% leased at the time of the sale.

The single building has 144 units.

The emphasis on healthcare during the past 19 months has turned these companies into attractive tenants for landlords looking to acquire retail real estate.

Bain Capital and Evergreen formed a joint venture to acquire, renovate and operate institutional quality healthcare real estate in select markets throughout the U.S. The joint venture focuses on mission critical outpatient medical office buildings.

Terms of the deal were not released, but officials with MedCraft Healthcare Real Estate said YNHHS will use the 179,285-square-foot, two-story former Macy’s spot as “a retail health facility.”

The multi-tenant property is anchored by University Orthopedics, one of New England’s largest orthopedic practices, which leases approximately 61% of the building.

Both transactions involved senior communities in Oregon.

Groundbreaking is expected to begin in 2022.

Upon closing, the first year unlevered cash yield of the portfolio is expected to be 4.9%.

For Summit, transactions will stem from stabilized, cash-flowing properties rather than distressed deals.