Institutional investor acquires fully-leased trophy outpatient facility
JLL Capital Markets completes $80M sale of Class A facility in Columbia, MD, on Johns Hopkins Health campus
COLUMBIA, MD.- Nov. 14, 2018 – JLL’s Healthcare Capital Markets experts have completed the $80 million sale of a 160,000-square-foot outpatient facility on the campus of Johns Hopkins Health System’s’ Howard County General Hospital in Columbia, Maryland. Welltower (NYSE:WELL), a leading global provider of health care infrastructure, acquired the Medical Pavilion at Howard County.
Managing Director Mindy Berman, Vice President Brannan Knott and Senior Vice President Gary Applestein led the team handling the sale on behalf of the seller, Ten Acres Business Trust.
“This is a Class A facility on the only hospital campus in the fourth wealthiest county in the nation and carries significant anchor tenancy by Johns Hopkins Medicine, a world-renowned and highly rated academic health system. The property is a highly attractive investment for the institutional market and garnered substantial core interest,” said Berman.
The five-story LEED Silver medical facility sits on 10 acres and was built in 2009 and is the newest building on Johns Hopkins Health System’s Howard County General Hospital campus. The facility has a cancer care center and multiple surgery centers as well as surplus land suitable for development.
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 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.