103K-SF MOB in Ohio Acquired by Remedy, Kayne Anderson

Joint venture partners Remedy Medical Properties and Kayne Anderson Real Estate today announced the acquisition of the Atrium Medical Center Medical Outpatient Building. CBRE brokered the transaction.

The five-story, 103,175-square-foot medical office building, located at 200 Medical Center Dr. in Middletown, Ohio, was built in 2007 and is attached to and directly integrated with the Atrium Medical Center, a 328-bed hospital. It is 85% occupied, anchored by the medical center, which currently leases 70% of the building, as well as three other tenants.

“This was an attractive opportunity to secure a highly visible medical office building directly linked with the dominant acute care hospital in its region,” said Joe Magliochetti, chief investment officer for Remedy. “In addition, the acquisition allows us to further strengthen our existing relationship with Premier Health. The system occupies 170,100 square feet in six additional Remedy-owned buildings, including the award-winning freestanding emergency department we developed for them in Beavercreek, Ohio.”