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.