Investor picks up 7-state, 10-property healthcare portfolio

SAN DIEGO, Feb. 17, 2021 – JLL Capital Markets announced today that it has arranged the sale and financing of a 10-property, Class A medical office portfolio totaling 270,831 square feet in seven states across the U.S.

Artemis Real Estate Partners purchased the entire portfolio from a confidential seller.

The portfolio comprises assets positioned near major hospitals or health centers in Salem, Ore.; Phoenix, Ariz.; Indianapolis, Ind.; Cincinnati, Ohio; Atlanta; Ga.; Charlotte, N.C.; and Lancaster, Pa. Approximately 50 percent of the portfolio is leased to investment-grade health systems, including Mercy Health, Novant Health and Penn Medicine Lancaster General Health. The balance comprises local and regional physician practice groups across primary and secondary markets, many of which are in Certificate of Need states. Tenants have significant investment in their spaces that feature generally high acuity uses, including imaging centers, ambulatory surgery centers and cancer centers as well as a number of other specialty practices.

The JLL Capital Markets team representing the seller includes Senior Managing Director Ted Flagg; Managing Director Andrew Milne; Vice Presidents Vasili Davos and Kristina Patrk; and Analysts Niema Beglari, Katya Golynko and Rachel Oates.

JLL Capital Markets Senior Managing Directors Daniel Turley and Tim Joyce and Director Anthony Sardo led acquisition financing efforts on behalf of Artemis, with a bank providing strong financing terms.

“The portfolio garnered interest from a wide variety of investors,” Milne said. “Artemis distinguished themselves early on and performed flawlessly throughout the process. Lenders also competed vigorously for the opportunity to provide financing with a bank ultimately stepping up to provide very attractive rate and terms.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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