The building was sold to a publicly traded real estate investment trust that owns, manages, acquires and develops medical facilities, according to Commercial Property Executive.
Meridian invested more than $2 million in the Laguna Hills property, bringing it from class B to class A standards. Meridian bought the building for $19.9 million in 2017.
The building is part of MemorialCare Saddleback Medical Center’s campus. Anchor tenants include South Coast Eye Center, Pacific Cardiovascular Associates, Pacific Hills Surgery Center and Simon Imaging.
Dubbed The Laguna, the building was Meridian’s first acquisition in Orange County, and the company has since acquired two other MOBs in the area.
More articles on surgery centers:
10 ASC administrators to know
Rhode Island ASC hits 300 total joint replacements milestone
Will Biden, Congress be friendly to ASCs and physician ownership?
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.