REIT Buys Medical Office Building For $50 Million

Investcorp International has pulled in a $12.5 million profit from the sale of a Boynton Beach medical office building less than two years after acquiring the property.
BHC Holdings LL LLC, managed by New York-based Investcorp, sold the 133,348-square-foot Bethesda Health City on Friday for $49.5 million, according to Palm Beach County records. It paid $37 million for the 17-year-old building at 10301 Hagen Ranch Road in October 2011.
HRCI 10301 Hagen Ranch Properties LLC is the buyer. The company shares a Toledo, Ohio, address with Health Care REIT Inc.
An outpatient medical building, Bethesda Health City has four wings connected to a central atrium. The nonprofit Bethesda Health operates Bethesda Memorial Hospital near the medical building.
 
Source: DBR