Indiana investor acquires $24M of medical office buildings, some with surgery centers in 4 states

Indianapolis-based real estate investor Cornerstone acquired $24 million worth of medical office buildings in Indiana, Kentucky, Tennessee and Ohio, the Indianapolis Business Journal reports.

Cornerstone acquired Nova Med Surgery Center in New Albany, Ind.,; Trinity Health Endoscopy Center in Steubenville, Ohio; Owensboro (Ky.) Dermatology Associates Clinic; Heart and Vascular Center of West Tennessee Clinics in Jackson; and an under-development ophthalmic ASC in Elizabethtown, Ky.

Cornerstone funded the acquisitions using its Medical Office Building Fund IV, a private equity-backed fund focused on medical real estate. Cornerstone has purchased $84 million in healthcare-related properties in recent history.

In its lifetime, the investment firm has developed more than 100 medical facilities.

More articles on surgery centers: 
University of Rochester plans $240M orthopedics center, ASC to meet outpatient surgery demand
Hospital rethinks plan for $91M tower as orthopedic cases go outpatient
3 lessons learned from establishing a successful outpatient total joint program

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