CBRE Investment Management, on behalf of a fund it manages, has acquired a four-building medical office portfolio totaling 282,683 square feet in the coastal gateway market of Orange County, Calif., through a joint venture with Healthcare Realty Trust.
The assets were part of the Healthcare Trust of America portfolio, which has merged with Healthcare Realty Trust to form the largest medical office building owner in the United States.
Located on the campus of a leading acute care hospital in affluent Mission Viejo, the portfolio includes Mission Medical Center Buildings 1-3 and Mission Medical Center Tower. These buildings, which recently underwent major renovations, feature ample surface parking; on-site pharmacies; recently renovated lobbies; new gurney-sized elevators; upgraded landscaping; and sustainability elements including new HVAC roof systems, LED lights and recycled water landscaping.
“Medical office is a new strategy for our fund,” said Larissa Be
