CRYSTAL LAKE, IL—American Realty Capital Healthcare Trust Inc. has acquired the 62,000-sq.-ft. Crystal Lake Medical Arts Building here at 360 Station Dr.
Chicago-based EnTrust Realty Advisors LLC arranged the sale. The medical office building is anchored by Centegra Health System which occupies over 50 percent of the building. The building’s high-acuity medical tenancy includes an urgent care facility, imaging center, spine and pain care, urology, primary care, cardiology, pulmonary, sleep therapy, wellness, physical therapy and neurology. The building is situated between Centegra’s three major campuses in McHenry, Woodstock and Huntley.
According to James I. Clark III, EnTrust’s managing principal, said the transaction points to his firm’s ability to source attractive, off-market opportunities. “The fact that the building has such significant hospital tenancy and is 93% percent occupied with long-term leases makes it a stable and premier investment,” he said in a statement. The Alter Group, an affiliate of EnTrust, will retain the leasing and managing of the asset.