News: Front Section
Posted: April 26, 2019
HK Group’s Keefe and Cordido broker $30.2 million sale of a three medical office building complex
Springfield, MA Matthew Keefe, president and Ricardo Cordido, CCIM, assistant vice president of HK Group were the sole brokers in the sale of a three medical office building complex for $30.2 million. MBRE Healthcare, a Chicago-based healthcare investment sponsor and operator, acquired the property from Atlantic Capital Investor Inc. and National Management & Development Group, a local real estate developer and operator partnership.
The medical office complex consists of three buildings totaling 120,000 s/f that are located at 3640, 3550, and 3500 Main St. They are located near Bay State Medical Hospital and Mercy Hospital. The properties are leased by many specialties including imaging, women’s physician groups, prosthetic labs, urology, ophthalmology, podiatry, hand surgery and a surgicenter.
This sale reflects the increasing interest in institutional quality MOB assets and the continued deal making that is being fueled by a steady flow of money into healthcare operations.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.