Union, Kentucky – October 16th – Crown MedRealty Partners (“CROWN”), a premier healthcare real estate firm headquartered in Kansas City, is pleased to announce the recent acquisition of a physician-owned, single-tenant medical outpatient building (“MOB”) via an all-cash transaction.
The 5,504 square-foot facility is fully leased to St. Elizabeth Healthcare, one of the oldest, largest, and most respected health systems in the Greater Cincinnati region, spanning more than 170 offices with 900 physicians and advanced practitioners. The building was purpose-built for St. Elizabeth in 2010 and has served as a key location for the health system for the past 15 years.
“This acquisition builds on an already strong relationship with St. Elizabeth,” said Steve Bessenbacher, Chief Operating Officer and Co-Managing Partner of Crown MedRealty Partners. “We’re proud to now own and manage several properties with St. Elizabeth as our tenant, reinforcing our focus on being a long-term, relationship-driven partner to leading health systems and physician groups all across the country.”
Crown now owns 12 properties across the Cincinnati MSA, totaling more than 200,000 square feet of medical real estate.
“Our expanding footprint in the Cincinnati MSA is a testament to the strength of our investment strategy,” said Brian Beggs, Chief Investment Officer and Co-Managing Partner of Crown MedRealty Partners. “With over 40 properties now across Ohio, Kentucky, and Indiana, Crown has built a significant presence throughout the tri-state region, one that reflects our disciplined execution, confidence in these markets, and the trust we’ve earned from healthcare systems and providers alike.”
Mike Sullivan of Cushman & Wakefield represented the Seller in this transaction.
About Crown MedRealty Partners
Crown MedRealty Partners, LLC, (“CROWN”) is a privately owned and vertically integrated commercial real estate firm who specializes and focuses exclusively on healthcare related real estate. Headquartered in Kansas City, Missouri, Crown provides its health system and physician partners with a full range of real estate services including investment and capital solutions, acquisitions, development, property sales, management and leasing. With north of $700 million in completed transactions of medical real estate to date, Crown’s managed portfolio presently includes 115+ properties totaling 2 million square feet and spans across 24 states nationwide.
As an industry leader in healthcare related real estate, we believe in thinking creatively, acting with integrity, adapting quickly, and taking a hands-on approach to every deal. If you would like to discuss your future partnership with CROWN, please contact our team at 816-878-6307
