JLL arranges $600M sale of healthcare property portfolio across 10 states

NorthWest Healthcare Properties REIT acquired the portfolio with a total of 27 properties 1.2 million SF of doctor’s offices and hospital buildings

CHICAGO, April 19, 2022 /PRNewswire/ — JLL’s Healthcare Capital Markets Group announced today that it has closed the 600 million dollars Sale of a prime healthcare real estate portfolio of 27 core quality properties totaling 1.2 million square feet Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas markets.

JLL marketed the portfolio on behalf of seller Harrison Street. NorthWest Healthcare Properties acquired the assets.

“Harrison Street is proud to have worked once again with JLL’s Healthcare Capital Markets team to complete the sale of this complex portfolio spanning multiple medical sub-sectors and US states,” said Ben Mohns, Senior Managing Director and Head of North American Asset Management at Harrison Street. “The successful sale of these diversified healthcare assets reinforces the strength of Harrison Street’s ongoing partnership with JLL and the ability of our talented portfolio execution team who have worked diligently to execute on behalf of our investors.”

The portfolio consists of 15 medical office buildings, five micro-hospitals, four behavioral hospitals, two inpatient rehabilitation hospitals and one cardiac and surgical hospital. The portfolio includes nine properties in Arizona; five properties in Texas and Illinois; two properties in Florida and one property each in Minnesota, Massachusetts, California, Oklahoma, Colorado and Indiana.

The portfolio is 97% owned by major healthcare providers including Advocate Aurora Health, Rush University Medical Center, Memorial Hermann, Ascension, Banner Health, Tenet Health, Lutheran Health Network, Baylor Scott & White Health and Edward-Elmhurst Healthcare.

The JLL Healthcare Capital Markets team representing the seller was led by senior managing directors Mindy Berman, Evan Kovac, Andrew Milne and Brian Bacharach and CEO Tim Joyce and Burn Knottwith the support of the Vice Presidents Trent Jemmett and CJ Kodani. Local support was provided by licensed JLL brokers in each location.

“The offer was well received due to its size and mix of doctor’s office and acute care,” Berman said. “Healthcare real estate has seen increased investor interest as the sector offers long-term leases with quality tenants that provide landlords with a steady income.”

The JLL Capital Markets Group is a global full-service provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers best-in-class solutions for clients – whether investment sales and advisory, debt capital advice, equity advice or recapitalization. The company has more than 3,000 capital markets specialists worldwide with offices in almost 50 countries.

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Jones Lang LaSalle Americas, Inc. (“JLL”) is a real estate agent licensed by the California Department of Real Estate under license no. 01223413 is licensed.

Via Harrison Street
Harrison Street is a premier investment management firm focused solely on alternative real assets. Since inception in 2005, the firm has developed a range of differentiated investment solutions focused on demographic and need-based assets. The company has invested in senior housing, student housing, healthcare, life sciences and warehouse real estate, and social and utility infrastructure. headquarters in Chicago with offices in London, Toronto, san francisco and Washington D.C., the company has more than 200 employees and approx $44 billion in assets under management. The firm’s clients include a global institutional investor base based in North America, Europe, middle East, Asia and Latin America. Harrison Street has been recognized by Pensions & Investments as a Best Places to Work for seven consecutive years (2014-2020) and recognized by PERE as alternative investor of the year 2021, North America and 2020 Global Alternatives Investor of the Year. For more information, please visit www.harrisonst.com.

About NorthWest Healthcare Properties (“NorthWest”)
northwest is a global real estate investor and wealth manager focused on real estate and partnerships at the intersection of health, knowledge and research. Founded in 2004 and listed on the stock exchange since 2010, northwest (TSX: NWH.UN) is a real estate fund that a 10 billion dollars Portfolio of 224 high quality healthcare properties Canada, The United States, Brazilthe United Kingdom, Germany, the Netherlands, Australia and New Zealand. With more than 300 professionals worldwide operating in 7 countries, northwest brings a global perspective, local execution capabilities and a long-term ownership strategy that enables it to serve as the preferred real estate partner for leading healthcare companies around the world.

About JLL
JLL (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. JLL is shaping the future of real estate for a better world, using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our employees and our communities. JLL is a Fortune 500 company with annual sales of $19.4 billion in 2021, offices in over 80 countries and a global workforce of more than 98,000 December 31, 2021. JLL is the brand name and registered trademark of Jones Lang LaSalle Built-in. For more information, see jll.com.

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Contact: Cierra Lacasse, JLL Associate, Public Relations
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