Investor buys 2-building medical campus with surgery center

LaSalle Investment Management bought Newport Beach, Calif.-based Newport Heights Medical Center, a two-building medical campus that houses an outpatient surgery center and multiple other tenants, according to the Orange County Register.

Three notes:

1. Terms of the transaction were not disclosed.

2. Real Estate Development Associates acquired the four-acre property for $8.8 million in 2015 and re-entitled the site for two Class A medical office buildings, which were completed in 2017.

3. The 59,978-square-foot Newport Heights Medical Center houses Starpoint Health Outpatient Surgery Center, UCI Health Newport, Eden Fertility Management, Newport Foot and Ankle, Grover Aesthetics and Lea Plastic Surgery.

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