Archer Property Partners acquired a three-building outpatient medical office portfolio in Orange County, Calif.
The properties, located in Rancho Santa Margarita, Mission Viejo and Costa Mesa, are anchored by Fountain Valley, Calif.-based MemorialCare, which previously held a minority stake in the facilities through a joint venture, according to a March 16 news release from the real estate firm.
Each site serves as a community-based primary care clinic within MemorialCare’s care network. As part of the deal, MemorialCare signed a long-term lease at the Rancho Santa Margarita location, where 5,000 square feet of space is now available.
Archer plans targeted upgrades and has retained MedWest Realty to lease the newly vacant space. The acquisition adds to Archer’s growing Southern California portfolio.
