PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, LLC Closes the Purchase of Three Medical Office BuildingsNovember 15, 2018
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC (“Inland Acquisitions”) announced today that it negotiated and closed the purchase of three medical office buildings located in New Jersey, Illinois and Wisconsin, on behalf of an Inland affiliate. The acquisitions total 127,481 square feet of medical office space and have a cumulative purchase price of approximately $58 million.
Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Acquisitions, along with Mark Cosenza and Matthew Tice, both senior vice presidents of Inland Acquisitions, are responsible for completing the purchases, with assistance from David Neboyskey and Brett Smith, vice presidents of The Inland Real Estate Group, LLC, Law Department.
“All three properties feature long-standing and established medical practitioners, underscoring each facility’s importance and demand in their communities,” commented Tice.
The properties include a 41-bed rehabilitation hospital in New Jersey, a cancer-related and blood disorder treatment facility in Illinois and an orthopedic surgery, gastroenterology and sports medicine and rehabilitation center in Wisconsin.
“Desirable medical office properties located in markets with strong demographics are the types of attractive acquisition opportunities we continue to seek for the remainder of 2018 and into next year,” said Mark Cosenza.
To date, Inland Acquisitions has completed the acquisition of 42 medical office properties throughout the United States, for a total purchase price of more than $479 million.
“As demographic trends shift and healthcare needs grow, high quality medical office properties will continue to be a significant area of focus in our acquisition strategy,” stated Joe Cosenza.
Since inception, Inland Acquisitions has facilitated more than $46 billion of purchases including single-tenant properties, medical office buildings, apartments and retail properties.
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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”). For additional information, please refer to Inland’s website at www.inlandgroup.com.