TSX-listed NorthWest Healthcare Properties has acquired a $600m (€518.4m) portfolio of medical office properties in the US from Harrison Street funds.
Harrison Street said it has sold the portfolio of 27 buildings on behalf of several of its funds.
The portfolio is spread across 10 states and contains more than 1.2m sqft of medical offices, micro-hospitals, surgery centres, rehabilitation centres, recovery centres, behavioural hospitals, speciality hospitals, transitional care facilities, and women’s care facilities.
The properties are managed in coordination with five of Harrison Street’s joint venture partners, including Pisula Development, The Sanders Trust, MedProperties Group, Meridian Property Company, and Nexcore.
Ben Mohns, a senior managing director and head of North American asset management at Harrison Street, said: “This large-scale transaction is another great example of Harrison Street’s longstanding strategy of acquiring and developing individual assets, executing on a defined business plan, and exiting via strategic portfolio sales.
“The successful sale of these diversified healthcare assets reinforces Harrison Street’s portfolio execution ability in multiple medical sub-sectors, the proven expertise of our talented team, and the strength of our deep partnerships with joint ventures and operators, alongside whom we have worked diligently to execute on behalf of our investors.”
Founded in 2004, NorthWest owns and operates a $10bn portfolio of 224 healthcare properties across Canada, the US, Brazil, the UK, Germany, the Netherlands, Australia and New Zealand.
JLL marketed the portfolio on behalf of Harrison Street.
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