Joint venture partners Remedy Medical Properties and Kayne Anderson Real Estate have acquired the Project Prism (Montecito) Portfolio, a high-quality, fully leased medical-office portfolio consisting of 13 properties in eight states, totaling 300,328 square feet.
The $131 million transaction closed in late December.
“The properties in the portfolio are ideally located in strong, growing markets with excellent demographics,” said Peter Westmeyer, founder of Remedy. “The Clarksville, Tenn., medical building, for example, is located in close proximity to Nashville in an area experiencing significant growth. The Precision Spine practice in the Tyler, Texas, property is one of the few spine and pain management practices in the area, enabling it to garner significant market share. All of this bodes well for the tenants to continue to grow and thrive.”
Joe Magliochetti, CIO for Remedy, said, “The properties are all 100 percent leased to experienced, highly re
