$350M portfolio with ASC recapitalized by new medical property joint venture

Remedy Medical Properties is investing in a 23-property healthcare portfolio owned by MedProperties, Commercial Property Executive reported Feb. 10.

The $350 million joint venture portfolio contains medical office buildings, rehabilitation hospitals and an ASC. The facilities are located in Texas, Pennsylvania, Florida, Ohio, Kentucky, Tennessee, New York, North Carolina and Missouri. Texas holds most of the real estate, with eight facilities.

Tenants include Dallas-based Baylor Scott & White Health, Children’s Hospital of Los Angeles, Chicago-based CommonSpirit Health, Rady Children’s Hospital in San Diego, the U.S. Department of Veterans Affairs, Los Angeles-based University of Southern California, Gainesville-based University of Florida Health and Morgantown-based West Virginia University Medicine.

Financial terms were not disclosed.

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