Harrison Street acquires two California medical office buildings for $156m

Harrison Street has acquired two newly renovated class A medical office buildings located at 9090 Wilshire Blvd. in Beverly Hills, Calif., and 2825 Santa Monica Blvd. in Santa Monica, Calif., for $156 million. The assets, totaling more than 107,000 square feet, are anchored by nationally renowned health systems Cedars-Sinai and UCLA Health.

The portfolio is 91.2 percent occupied by a highly complementary mix of clinical medical and laboratory science tenants, and enjoys an ecosystem of patient referrals within each building. Near Los Angeles’s world-class healthcare facilities, including Cedars-Sinai Medical Center and UCLA Santa Monica Medical Center, the strategic location for the health system tenancy also provides a high number of referrals within the surrounding community.

“This is an exciting transaction that builds on our West Coast medical office portfolio and highlights Harrison Street’s track record of delivering attractive core real estate opportunitie