MOB, ASC housing Twin Cities Orthopedics sold for $52M

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A medical office building housing a surgery center and urgent care clinic in Burnsville, Minn., has sold for $52 million, the Minneapolis/St. Paul Business Journal reported May 27.

Golden Valley, Minn.-based Twin Cities Orthopedics operates the facility, which spans 85,602 square feet. An entity affiliated with Healthpeak Properties, a real estate investment trust, purchased the property, according to the report.

The ASC increases the building's value, Brian Bruggeman, a senior vice president at real estate company Colliers, told the publication. He also said that investor demand for medical office building sales is outpacing current supply.

The transaction closed April 30. That day, Healthpeak also acquired two other medical office buildings in Burnsville for $21 million and $14 million, according to the report.

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