MBRE Healthcare Pays $34M for Colorado Asset

The three-building, 149,428-square-foot medical office campus in Colorado Springs last traded in 2014.
1625 Medical Center Point

MBRE Healthcare has purchased Union Medical Office Plaza, a three-building, 149,428-square-foot medical office campus in Colorado Springs, Colo. RAIT Financial Trust sold the asset for $33.6 million after six years of ownership, according to Yardi Matrix information. JLL Capital Markets represented the seller and procured the buyer.

Located at 1625, 1633 and 1644 Medical Center Point, the two-story buildings came online in 1992, 1995 and 1998. According to JLL, the property was 82 percent leased at the time of sale. The roster includes a mix of medical services tenants spanning sectors such as audiology, cardiology, radiology and urgent care.

The campus is roughly 4 miles northeast of the city center in a premier medical corridor. Situated close to CanAm Highway, the location is also accessible through public transportation. Penrose Hospital is 2 miles southwest.

Managing Directors Andrew Milne and Larry Thiel, together with Director Matt DiCesare and Senior Managing Director Eric Tupler led the JLL team. Milne was part of a team that arranged another MBRE Healthcare purchase in December.