News
Keen on Chicago MOB
July 5, 2012
| Investors might feel "meh" about many suburban office buildings (the American dream of an office building with a white picket fence and 2.5 secretaries is fading), but metro Chicago MOB is still hot. MedProperties Group director-investment management Jesse Ostrow tells us his company is actively building its MOB portfolio in the region, including value-adds. | ||
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| Recently MedProperties closed on the acquisition of the 63k SF 1100 West Central Ave in Arlington Heights for an undisclosed sum, renaming the Arlington Heights Medical Center. Jesse says that the company's healthcare real estate experience (development and operations) allow it to compete for value-add and opportunistic situations, as opposed to other capital in the sector, which tends to pursue more core assets. MedProperties plans to modernize the property to help retain and attract tenants. | ||
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