AW Spends $55.2M on 9-Property NC Medical Portfolio

November 14, 2024November 14, 2024

AW Properties obtained $55.2 million in financing for a nine-property medical portfolio totaling 297,500 square feet in Burlington, Durham and Greensboro, North Carolina. The loan proceeds were used to acquire the portfolio.

JLL placed the 10-year, fixed-rate loan with a life company. Travis Anderson and Anthony Sardo led the JLL Capital Markets Debt Advisory team, representing the borrower.

With an average vintage of 2006, the portfolio is 99% leased to leading healthcare systems and dominant independent physician practices, with credit tenants representing 73% of in-place income. All of the properties are located on or adjacent to hospital campuses in Burlington, Durham and Greensboro markets.

The portfolio includes Cone Health Neurology Clinic, 2001 North Church Street, Wesley Long MOB in Greensboro, Alamance Eye Center in Burlington, UNC Family Medicine Center, and Duke Medical Center in Durham.

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