JLL completes sale of Indianapolis-based Methodist Professional Center II to Healthcare Realty Trust

May 3, 2019

 

 

JLL’s Healthcare Capital Markets experts have completed the sale of a 143,499-square-foot Class A outpatient facility on the academic medical campus of Indiana University Health’s Methodist Hospital in downtown Indianapolis. It is the largest hospital complex in the state of Indiana with 1,411 staffed beds. Methodist Professional Center II (MPC II) is fully occupied by Indiana University Health and its affiliates. It features the campus’s outpatient ambulatory surgery center and cardiovascular specialists. 

Healthcare Realty Trust, a New York Stock Exchange-listed REIT that focuses on owning, managing, acquiring and developing outpatient medical facilities throughout the United States with 14.9 million owned square feet, acquired Methodist Professional Center II. The seller was The Sanders Trust, headquartered in Birmingham, Alabama and a national leader in the development, acquisition and management of strategic healthcare properties. 

The four-story property sits on 1.4 acres and was built in 1992.  MPC II is integrally connected to the hospital facility and is a critical component of IU Health’s $1 billion project to consolidate clinical operations from University Hospital into the expanded, dynamic and growing facilities of Methodist Hospital and Riley Hospital for Children.

 

Mindy Berman and Justin Hill of JLL Healthcare Capital Markets served as advisors to the seller along with Bruce Gordon. JLL has sold more than 841,000 square feet of healthcare properties in Indiana. 

 

JLL Healthcare Capital Markets is the only national full-service healthcare capital markets team in the real estate industry focused on medical office, hospitals, seniors housing and post-acute care. The team consistently transacts over $1 billion annually with unrivaled expertise and experience in investment sales, monetization, development debt and equity capital raise and advisory services for investor and provider clients.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,400 Capital Markets specialists completed nearly $180 billion in investment sale and debt and equity transactions globally.

 

For more capital markets content, visit The Investor, an online news source providing real-time commercial real estate news to asset buyers and sellers around the world. For more news, videos and research resources on JLL, please visit the firm’s U.S. newsroom.

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