Transactions - OCTOBER 6, 2014

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CNL buys nine medical offices for $238m

by Andrea Waitrovich

CNL Healthcare Trust has bought a nine-property medical portfolio from Meadows & Ohly for $238.1 million. The portfolio totals 881,726 square feet. The properties are located in Georgia and North Carolina.

The highest priced and largest medical office property is the 192,000-square-foot Midtown Medical Plaza in Charlotte, selling for $51.1 million. The lowest priced asset was the 44,332-square-foot Outpatient Care Center, in North Carolina, selling for $12.9 million.

In a separate deal, CNL Healthcare Properties acquired the Lee Hughes Medical Building, a 76,758-square-foot, class A medical office building for approximately $29.9 million. Built in 2008, the property is located on the campus of the 500-bed Glendale Adventist Medical Center in Glendale, Calif. 

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