Omaha Property Included in $368M Medical Office Building Portfolio Sale

CBRE (www.cbre.com) recently announced that it facilitated the $367.7 million portfolio sale of 25 medical office buildings owned by IRET, a real estate company based in Minneapolis and Minot, North Dakota, to Chicago-based Harrison Street Real Estate Capital LLC (“Harrison Street”), one of the largest real estate investment firms dedicated to the education, healthcare and storage sectors. CBRE’s Healthcare Capital Markets Group, led by Chris Bodnar and Lee Asher, partnered with BMO Capital Markets to serve as advisors on the sale, which closed December 29, 2017. Most of the healthcare properties included are located in the Twin Cities metro area, with additional facilities in North/Central Minnesota, Montana, North Dakota, Nebraska and Wisconsin. The Nebraska property included in the sale is located at 17001 Lakeside Hills Plaza in Omaha.

The sale follows a November announcement by IRET that it had entered into a purchase and sale agreement to sell its entire healthcare portfolio, which totals 29 medical office building and healthcare tenant-occupied properties. According to an IRET press release, the company plans to complete the sale of its remaining healthcare-related properties over the next six months as part of its transition to a multifamily-focused company.