MB Real Estate completes big Chicago-area MOB buys for $160M — 5 things to know

MB Real Estate recently purchased several medical office buildings in the Chicago area, including space occupied by Illinois Bone and Joint Institute, according to a Crain's Chicago Business report.

Here are five things to know:

1. The entire portfolio MB Real Estate purchase included 10 medical office buildings in two major purchases in the Chicago area; The first being a large building in Skokie and the second being a nine-building portfolio with more than half the space occupied by IBJI.

2. MB Real Estate paid $160 million total for the buildings.

3. The nine-building portfolio has more than 95 percent of the buildings occupied with tenants that include Advocate Health Care, Resurrection Health Care and Pain Specialists of Greater Chicago.

4. IBJI was the "main draw" for the purchase; the practice has more than 90 physicians and 20 locations.

5. The sellers were represented by John Smelter, senior director of Marcus & Millichap's Healthcare Real Estate Group and Scott Niedergang and Gino Lollio, associate vice presidents of the Healthcare Real Estate Group.

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