LoanCore Partners with Blue Arch, Lincoln on UES Medical Office
Real estate private equity firm Blue Arch, Lincoln Property Company and LoanCore Capital have formed a partnership for the ownership and operation of Park Sixty, a Class-A medical office building located at 110 E. 60th St. on Manhattan’s Upper East Side. Financial terms were not disclosed.
The block-through property contains 179,000 square feet of medical office space and 7,000 square feet of retail space. It recently underwent a $20-million renovation.
“We are thrilled to partner with two industry-leading operators in Blue Arch and Lincoln to reintroduce Park Sixty as a one-stop shop for a variety of healthcare providers,” said Richard Small, managing director at LoanCore. “As home to the largest public and private healthcare systems in the U.S., New York City’s world-class medical centers and reputation for innovative research and development are unparalleled. We are confident Park Sixty’s prime location and high-quality space will support those efforts.”
Eastdil Secured acted as exclusive advisor to LoanCore.
