IRA CAPITAL EXPANDS MEDICAL OFFICE PORTFOLIO WITH FLORIDA AND OHIO ACQUISITIONS

First Coast Orthopedic Surgery Center

First Coast Orthopedic Center (FCOC) is a 12,000 SF orthopedic surgery center located in Jacksonville, Florida and completed in May of 2020. The property is strategically situated less than a mile away from Ascension St. Vincent Southside hospital (311 beds), where the surgery center physician partners have privileges.  The state-of-the art facility was built to conduct a wide range of orthopedic surgeries and procedures, and is equipped with 2 multi-use operating rooms, 1 joint procedure room, and 10 pre/post operation bays.  SCA manages the facility on behalf of the Tenant partnership, which maximizes the center’s efficiency given SCA’s network of over 210 ASC’s across 35 states and total case volumes surpassing 1 million procedures annually. SCA is wholly-owned by Optum/United Health, the largest healthcare company in the world with total revenues exceeding $240 billion.

The Christ Hospital Multispecialty Center

The Christ Hospital Multispecialty Center is a 15,000 SF built-to-suit medical office building located in Milford (Cincinnati), Ohio and completed in Q4 of 2019. The building is 100% occupied by The Christ Hospital and serves as one of their key community outpatient centers, providing primary and specialty care services including obstetrics, gynecology, urology, and physical/occupational therapy, in addition to a full on-site lab/surgical testing. The Christ Hospital was founded in 1889 and has provided healthcare services to the Cincinnati area since its inception. In 2009, the system transitioned to an outpatient centric strategy, resulting in nearly 850,000 outpatient office visits and over 45,000 inpatient hospital admissions.

IRA Capital continues to be among the most active healthcare real estate investor, with these latest acquisitions representing the company’s fifteenth and sixteenth healthcare transactions in the past 90 days totaling over $285 Million.  According to IRA Capital partner Jay Gangwal, these investments align with IRA’s strategic initiative to acquire critical-operation healthcare assets backed by long-term leases and strong credit.

Read Related News Online At:  Healthcare Real Estate Insights