Cornerstone Companies acquires 12 medical office buildings, ASCs for $48.7M

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Healthcare real estate firm Cornerstone Companies has acquired 12 properties comprising medical office buildings, ASCs and clinics for $48.7 million. 

The portfolio spans nine states and includes six MOBs, three clinics/ASCs, an imaging and diagnostics center, a senior care facility and one standalone ASC, according to a July news release.  

Cornerstone has acquired more than $150 million in healthcare assets over the past four years.

Cornerstone's ASC acquisitions include:

  • Owensboro Dermatology ASC in Newburgh, Ind.: a 10,000-square-foot dermatology clinic and ASC slated for completion in November. 
  • Keystone Eye Associates ASC & Clinic in Philadelphia: a 14,000-square-foot ophthalmology clinic and ASC.
  • Atlantic Gastroenterology and Endoscopy Center in Greenville, N.C.: a 9,000-square-foot outpatient endoscopic facility.
  • Surgery Center of Baton Rouge (La.): an 11,000-square-foot ASC.
  • OrthoArizona MOB in Mesa, Ariz.: a 10,000-square-foot medical office building 100 percent leased to OrthoArizona.

 

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