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.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
