JLL Income Property Trust has acquired West Boston Medical Center, a 53,000-square-foot outpatient complex in Watertown, Mass., for approximately $32 million, according to a March 4 Weekly Real Estate News report.
The property is fully leased under a 15-year agreement with 2.8% average annual rent increases. It houses a range of clinical services including internal medicine, pediatrics, OB-GYN, radiology, pharmacy, dermatology and physical therapy.
The deal brings JLL’s healthcare real estate holdings to $647 million across 25 properties. Healthcare now represents 10% of the trust’s $6.9 billion portfolio.
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