Illinois JV Picks up Two Medical Office Properties in Florida

Illinois JV Picks up Two Medical Office Properties in Florida

CHICAGO—Chicago-based Stage Equity Partners LLC and Northbrook, Ill.-based Middleton Partners LLC have acquired two medical office buildings located in southwest Florida in a new joint venture partnership. Totaling approximately 70,000 sq. ft. of space, the properties are located in Bradenton, Fla. and were acquired from a publically traded healthcare REIT in an off-market transaction.

The purchase price was approximately $125 per sq. ft.

Currently more than 95 percent occupied, the properties are approximately 60 percent leased by one of Bradenton’s largest multi-care practice groups, a subsidiary of HCA Healthcare. Another 10 percent is leased by Davita Inc., a national dialysis company.

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