Physicians Realty Trust acquires New York medical property, ASC for $81.5M

Physicians Realty Trust, through a joint venture with Dallas-based MedProperties Realty Advisors, has acquired Calko Medical Center in Brooklyn, N.Y., for $81. 5 million.

Four things to know:

1. Built in 2013, the complex is anchored by Maimonides Medical Center and includes the Brooklyn Surgery Center, which Newsweek ranked the fourth-best ASC in New York and the top surgery center in Brooklyn, according to a Sept. 13 news release.

2. Brooklyn Surgery Center is a multispecialty ASC specializing in gastroenterology, orthopedic, general surgery, colorectal surgery, pain management and urology, among other surgical services.

3. Maimonides Medical Center is 100% leased and occupied. Physicians Realty Trust owns 90 percent of the joint venture, with MedProperties owning 10 percent. The stabilized cash yield on the investment is 5.5 percent.

4. The complex also includes an urgent care center, an orthopedic department, a pain management center, an endoscopy program and 30,000 square feet of physician office space.

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