A high-profile Chicago real-estate investment trust has expanded its buying spree of Forsyth County medical properties with the $31.7 million purchase of two buildings in the Kimel Park medical-office park.
Affiliates of MB Real Estate spent $16.3 million to buy 170 Kimel Park Drive and $15.4 million for 180 Kimel Park Drive in Winston-Salem.
The transactions, which closed Friday, are listed on the Forsyth County Register of Deeds website. OrthoCarolina is the tenant at both properties.
The seller in each transaction is Montecito Medical Real Estate of Corona, Calif.
With the two deals, MB Real Estate affiliates have spent a combined $156.75 million on 15 Triad properties since May. The most that an MB Real Estate affiliate has spent for a Winston-Salem medical building is $33.4 million for the Winston-Salem Health Care facility at 250 Charlois Blvd.
The building at 200 Robinhood Medical Plaza was bought for $18.35 million, and MB affiliates also bought the Forsyth Internal Medicine building at 1381 Westgate Center Drive for $13.97 million and the Salem Family Medicine building at 105 Vest Mill Circle for $12.35 million.
John H. Boyd of The Boyd Co., a site-selection company based in Princeton, N.J., said medical office real estate in the Triad has become as attractive as its commercial and industrial counterparts.
“Strong economic, demographic and technological drivers are in all place now, providing strong tailwinds to the growing health-care REIT activity being seen now in the Triad,” Boyd said.
“Especially attractive real-estate investments are outpatient medical office buildings, due to the growing demand for a more patient-centered health care delivery,” he said.
Boyd said the “graying of the U.S. population materially increases the health-care demand from seniors.”
“Other trends being factored: new health-care building construction around the country is not nearly keeping pace with demand; and the fact that since Affordable Care Act went into effect, millions of Americans that did not have access to health insurance now do and are showing up at doctors’ offices in record numbers,” he said.
“With more covered patients and more dependable foot traffic, there are more payments coming into the system and less risk of default on rents and landlord debt,” Boyd said.