Multi-tenant medical office building trades for $26.75M in San Diego
JLL Capital Markets led sales efforts for Vista Medical Plaza; cites strong demand in the healthcare space
SAN DIEGO – July 19, 2021 – JLL Capital Markets announced today that it has closed the $26.75 million sale of Vista Medical Plaza, a multi-tenant medical office building totaling 54,703 square feet in the San Diego community of Vista, California.
JLL represented the seller, AmeriCare Health & Retirement, Inc., and procured the buyer, a partnership between Anchor Health Properties and Carlyle.
Vista Medical Plaza is located at 2067 W Vista Way in San Diego’s North County. The property is immediately adjacent to the 320-bed Tri-City Medical Center in a medical node that is heavily concentrated with healthcare tenants.
In 2016, Vista Medical Plaza underwent major renovations and building improvements to bring the building up to class A standards. The 87.6%-leased facility is home to a mix of national investment grade tenants and local and regional practices.
The JLL Healthcare Capital Markets team representing the seller was led by Managing Directors Evan Kovac and Andrew Milne, Vice President Trent Jemmett and Associate Niema Beglari.
“We continue to see strong demand for healthcare properties, due to a lack of supply in the market coupled with an overflow of equity that has been allocated to healthcare from traditional asset classes,” said Kovac. “Vista Medical Plaza provided Anchor and Carlyle the opportunity to invest in the highest quality third-party owned medical office building on-or-adjacent to the Tri-City campus.”
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 investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About AmeriCare Health & Retirement, Inc.
AmeriCare Health & Retirement, Inc. is a privately held healthcare management company that owns, operates and invests in retirement communities and medical office buildings. The company was formed in 1984 and currently owns all of its real estate assets. To learn more, please visit: americarehr.com.
About Anchor Health Properties
Anchor Health Properties is a national, full-service healthcare real estate development, management, leasing, and investment serving investors and health systems. Anchor takes a strategic approach to navigating the extremely competitive healthcare marketplace, considering multiple angles, such as retail drivers, customer experience, branding and efficiency of the project. We develop and manage projects across the United States that respond to the new landscape of employed physicians, team-based care, the need to optimize assets and reduce duplication, and the integration of care and technology. Anchor manages and leases seven million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains multiple offices nationwide and features more than 80 professionals in its ranks. Over the past five years, Anchor principals have acquired and/or developed more than $3 billion of medical real estate across the country. Healthcare today calls not only for new and more efficient ways of delivering outpatient services, but also a different kind of healthcare development and management company. For more information, please visit: www.anchorhealthproperties.com.
Carlyle (NASDAQ:CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.