The building was sold to a publicly traded real estate investment trust that owns, manages, acquires and develops medical facilities, according to Commercial Property Executive.
Meridian invested more than $2 million in the Laguna Hills property, bringing it from class B to class A standards. Meridian bought the building for $19.9 million in 2017.
The building is part of MemorialCare Saddleback Medical Center’s campus. Anchor tenants include South Coast Eye Center, Pacific Cardiovascular Associates, Pacific Hills Surgery Center and Simon Imaging.
Dubbed The Laguna, the building was Meridian’s first acquisition in Orange County, and the company has since acquired two other MOBs in the area.
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