Avison Young Arranges Silver Spring Clinical Park Sale
Avison Young has closed the sale of Doctors Medical Park, a three-building outpatient clinical park, on behalf of Medical Center Associates, LLLP. The 90,076-square-foot property, comprising 10301 Georgia Avenue, 2101 Medical Park Drive, and 2121 Medical Park Center, was acquired for $15.25 million by an affiliate of Blue Arch Capital.
The property is located in Silver Spring, MD, near Holy Cross Hospital, and features tenants like Community Radiology Associates and Fresenius. Medical Center Associates was represented by the Avison Young team of Jim Kornick, Mike Wilson, and Joe French. Avison Young also arranged the acquisition financing on Behalf of Blue Arch with a team led by Jon Goldstein, Michael Yavinsky and Wes Boatwright.
“This sale demonstrates the strength of medical outpatient buildings despite challenges in other sectors,” said Kornick. “We received several competitive proposals for the financing, despite the challenging debt environment. Lenders were attracted to this opportunity due to the excellent location of the assets, strong sponsorship, and diverse tenant roster. A life insurance company provided the financing with exceptional terms,” added Goldstein.
