MB Real Estate Healthcare Group, an operating division of MB Real Estate, announced this week that it had acquired two new medical office buildings (MOBs) in Grand Rapids, Michigan. The purchase prices, seller names and transaction details were not disclosed.
"We're obviously focused on and confident about medical real estate as a whole, but what attracted us to these properties is their strong tenancy which includes Spectrum Health and Grand Valley Health Plan," said Peter Westmeyer, principal of the MB's healthcare investment team. "Additionally, the fundamental strength of Grand Rapids' economy and growing health sector really attracted us to the area and the opportunity."
The first property is a two building, 111,758 square foot multi-tenant complex at 1000 E. Paris SE in Grand Rapids. Anchored by Spectrum Health, a not-for-profit health system located in West Michigan, the property is also occupied by multiple physician groups and Grand River Cardiology, which is affiliated with St. Mary's, the second largest hospital system in the area. The second property is a 56,043 square foot medical office building attached to the Orthopedic Associates of Michigan Centers of Excellence Campus at 2680 Leonard Street NE in Grand Rapids. The MOB is occupied by Grand Valley Health Corporation, including the Grand Valley Surgical Center.
For more news and information visit Blumberg Capital Partners.
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