Trust buys $211M in medical offices

A Newport Beach-based real estate investment trust has acquired $211 million worth of Southern California medical office buildings, it announced this week.

Nationwide Health Properties Inc. has bought buildings in Mission Viejo, Orange, Pasadena and San Bernardino.

The purchases show that capital markets are thawing, making more commercial real estate deal-making possible. Analysts predict that health care investment trusts will make more deals this year. They typically invest in assets such as senior housing, medical office buildings and hospitals.

Nationwide Health has purchased a stake in five medical office buildings: a 140,000-square-foot-facility in Mission Viejo in a joint venture with Mission Hospital Regional Medical Center; a 130,000-square-foot facility in Orange in a joint venture with doctors associated with St. Joseph Hospital of Orange; a 190,000-square-foot building in Pasadena in a joint venture with an entity affiliated with Pacific Medical; and two properties in San Bernardino.

— OCLNN.com