Investor demand for medical properties has seen an uptick during the COVID-19 pandemic, and is expected to continue to gain traction over the next decade.
Here are seven orthopedic hospital, ASC and medical office building transactions, which totalled $280 million this year:
1. Ascension St. Vincent Orthopedic Hospital and its medical office building in Newburgh, Ind., was sold for $88 million. The 136,000-square-foot building, completed in 2019, has 10 operating rooms, 48 beds and several medical office suites.
2. Nashville, Tenn.-based Montecito Medical purchased Beachwood (Ohio) Medical Center, which specializes in spine, orthopedics and pain management, for $58.3 million.
3. A medical office building housing a Twin Cities Orthopedics surgery center and urgent care clinic in Burnsville, Minn., sold for $52 million.
4. Chicago-based MB Real Estate Healthcare bought the Arizona Spine & Joint Hospital building in Mesa for $25 million. The 23-bed hospital has 28 physicians, four operating rooms and two pain treatment rooms.
5. Montecito Medical purchased an orthopedics-focused medical office building and ASC in Leland, N.C., for $23.7 million. The 55,590-square-foot property was built in 2019 for Raleigh, N.C.-based EmergeOrtho, which occupies 100 percent of the building.
6. Phoenix-based OrthoArizona sold its medical office building and ASC real estate in Gilbert, Ariz., for $23.6 million to a private equity group focused on healthcare real estate. OrthoArizona is a joint venture between physician owners and Dallas-based United Surgical Partners International.
7. A three-building portfolio anchored by El Paso-based Sun City Orthopaedics and West El Paso Surgical Center was sold to a medical real estate investment trust for $9.5 million.