PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, LLC Closes the Purchase of a Medical Office Portfolio in ArizonaDecember 06, 2018
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of a portfolio of eight medical office buildings located in Mesa, Chandler, Gilbert, Glendale and Scottsdale, Arizona. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from David Neboyskey, vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.
The properties, leased to one of the largest cancer and research center providers in Phoenix with more than 600 employees and 70 physician providers, provide a combined total of 146,245 square feet of medical office space. Specializing in a variety of cancer treatment procedures, the facilities offer patients chemotherapy, hormonal, targeted and biological therapies, three-dimensional radiation, modulated radiation, stereotactic radiosurgery and volumetric arc therapy. Additionally, the properties conduct all the administrative medical billing processes and have eight radiation vaults.
“The properties’ ideal locations in five prominent Phoenix suburbs provide local and surrounding residents with convenient access to industry leading cancer treatments, research and advanced medical technology,” said Tice. “This portfolio’s well-known, established healthcare tenant, combined with 15-year leases at all properties, made this transaction a prime example of the type of medical office properties we seek to acquire.”
To date, Inland Real Estate Acquisitions, LLC has facilitated more than $46 billion of purchases including retail centers, apartments, single-tenant properties and a total of more than $479 million in medical office buildings.
# # #
About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups, which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof (collectively, “Inland”). Inland has been creating, developing and supporting real estate-related companies for 50 years. For additional information, please refer to Inland’s website at www.inlandgroup.com.