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News release


National Portfolio Sale Showcases Investor Appetite for Healthcare Properties

JLL closes sale of largest healthcare deal of the year


BOSTON, August 25, 2014 – Healthcare properties continue to prove themselves to be highly attractive to real estate investors seeking secure cash flow and stable occupancy.  With an aging population, demand for healthcare commercial real estate properties is here to stay. JLL’s Capital Markets experts today announced the sale of the 2014 Multi-State Healthcare Portfolio on behalf of Harrison Street Real Estate Capital. The portfolio was sold for $283 million and is comprised of 12 separate assets.

Managing Director Mindy Berman and Vice President Daniel Turley led the JLL team on the transaction.

The 655,661 square-foot portfolio consists of seven medical office buildings, three inpatient rehabilitation hospitals and two short-term acute care hospitals. The portfolio offers long term leases, many of which are single tenant with hospitals, and is nearly fully occupied.  Locations are concentrated in the demographically growing Sun Belt and vary among Florida, Texas, Nevada, Oklahoma, South Carolina and Indiana.

 “Healthcare investors ranging from REITs, pension funds and private equity are aggressively seeking the opportunity to acquire scale and diversification across a well-occupied portfolio,” said Berman. “This portfolio features highly sought-after hospital occupancy and alignment with substantial remaining lease term.”

Brian Mutchler, Co-Head of Asset Management at Harrison Street, added “Healthcare properties have become well-established in the mainstream of real estate investment since the economic downturn.  We are delighted to drive value for our investors as healthcare properties produce stable and high quality income.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2013 alone, JLL Capital Markets completed $99 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.
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