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Florida REIT Buys Medical Office Building in Overland Park

CNL Healthcare Properties Pays $14 Million for Mid America Surgery Institute at Menorah
January 4, 2018
CNL Healthcare Properties II of Orlando, FL has purchased the Mid-America Surgery Institute on the campus of HCA Midwest Menorah Medical Center in Overland Park, KS for 414 million, or approximately $364 per square foot.

The 38,496-square-foot medical office building delivered in 2007 adjacent to Sprint Corp.'s headquarters, Town Center Plaza & Crossing, and Hawthorne Plaza at 5525 W. 119th St. The two-story complex is fully leased to five tenants with an ambulatory surgical center operated by HCA and a leading physician group serving as its anchor tenants.

Evan Kovac, Ben Appel, Anthony Frogameni, Andrew Milne, Matt DiCesare and Sean Fogarty of HFF's national medical office building team represented the seller in negotiations. This is the second acquisition for the non-traded REIT sponsored by CNL Financial Group.

For more information on the transaction, please see CoStar Comp #4097752.
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