CBRE Global Investors acquires medical office portfolio

CBRE Global Investment Partners (GIP) has acquired a 95 percent interest in a 25-building U.S. medical office portfolio from Kayne Anderson Real Estate Advisors (KAREA) and MB Real Estate Healthcare (MBRE Healthcare).

The investment was made on behalf of clients of GIP and marks an expansion of GIP’s investment into the medical office sector.

KAREA and MBRE Healthcare will continue to operate the portfolio and hold a 5 percent ownership.

The portfolio comprises medical office buildings across 10 states with key concentrations in Atlanta and Chicago totaling 1.4 million square feet of existing space and a 150,000-square-foot development project. The assets present a broad geographic exposure with a mix of both off-campus and on/near-campus locations. The portfolio is approximately 95 percent occupied, with key tenants including both national and regional healthcare systems along with high-quality specialists.

GIP will partner with the KAREA/MBRE Healthcare platform to continue to create value through leasing and repositioning, focusing on providing solutions to strengthen relationships with tenants and targeting capital expenditure in areas that create and improve a high-quality patient experience.