SAN DIEGO –– JLL Capital Markets announced today that it has closed the $26.75 million sale of Vista Medical Plaza, a multi-tenant medical office building totaling 54,703 square feet in the San Diego community of Vista, California.
JLL represented the seller, AmeriCare Health & Retirement, Inc., and procured the buyer, a partnership between Anchor Health Properties and Carlyle.
Vista Medical Plaza is located at 2067 W Vista Way in San Diego’s North County. The property is immediately adjacent to the 320-bed Tri-City Medical Center in a medical node that is heavily concentrated with healthcare tenants.
In 2016, Vista Medical Plaza underwent major renovations and building improvements to bring the building up to class A standards. The 87.6%-leased facility is home to a mix of national investment grade tenants and local and regional practices.
The JLL Healthcare Capital Markets team representing the seller was led by Managing Directors Evan Kovac and Andrew Milne, Vice President Trent Jemmett and Associate Niema Beglari.
“We continue to see strong demand for healthcare properties, due to a lack of supply in the market coupled with an overflow of equity that has been allocated to healthcare from traditional asset classes,” said Kovac. “Vista Medical Plaza provided Anchor and Carlyle the opportunity to invest in the highest quality third-party owned medical office building on-or-adjacent to the Tri-City campus.”
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 investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
