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Fifteen Twin Cities medical office buildings and clinics have recently switched hands as part of a $400 million deal.
IRET, a real estate company based in Minneapolis and Minot, N.D., has sold 25 medical office buildings to Harrison Street Real Estate Capital LLC of Chicago.
The sale included properties in Minneapolis, Edina, Burnsville, Brooklyn Center, Brooklyn Park, Lake Elmo and St. Michael.
CBRE’s Healthcare Capital Markets Group, headed by Chris Bodnar and Lee Asher, partnered with BMO Capital Markets to serve as advisers on the sale, which closed Dec. 29.
IRET announced last November that it planned to sell its entire health care building portfolio. IRET will unload the rest of that portfolio over the next six months and focus more on multifamily properties.