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News release

PORTLAND, OR

JLL Sells Oregon Medical Office for $61M

Harrison Street Real Estate Capital acquires leasehold interest of RiverBend Hospital MOB in Springfield


PORTLAND, March 19, 2015 – On behalf of Northwest Specialty Clinics, JLL’s Capital Markets experts today announced the firm has completed the sale of a Class A medical office building in Springfield, Ore. Harrison Street Real Estate Capital purchased the Northwest Specialty Clinics at RiverBend for $61.4 million.

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

“This is the premier medical office building in the Eugene area. From an investment perspective, it’s an attractive property because of its location at the new RiverBend Hospital campus, a regional tertiary acute care powerhouse, and the largest hospital between Portland and San Francisco,” commented Berman. “The building is well occupied with specialty surgical practices and contains high-value amenities including a joint venture surgery center, imaging and endoscopy suites.  The Northwest Specialty Clinics building is ideally connected to the surgery floor of the hospital, providing exceptional access for surgeons at Northwest Specialty Clinics and their patients.”

Northwest Specialty Clinics is a five-story, 122,479 square-foot building completed in 2009 that is nearly fully leased to 14 tenants, including PeaceHealth - one of the largest integrated health systems in the Pacific Northwest.  Northwest Specialty Clinics is a consortium of nine independent general and specialty surgical practices.

Located just off Interstate 5, the RiverBend campus caters to the greater Eugene-Springfield metropolitan area and its 356,000 residents. The area boasts a significant population of young professionals, students and faculty associated with the University of Oregon, as well as a substantial number of retirees attracted to the area by the affordable cost of living, mild weather, and mix of cultural and outdoor activities.

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 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.

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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.