Banner Health, a leading healthcare provider, recently completed the sale of three medical office facilities in Tucson to The VanBarton Group. This New York-based real estate investment manager specializes in tailored strategies for institutional investors and acquired the Banner portfolio for $19.5 million.
The properties included in this transaction are:
– University of Arizona Cancer Center at 1881 -1891 West Orange Grove, sold for $10 million ($343 per square foot)
– Banner Multispecialty Clinic at 265 West Ina Road, sold for $7.1 million ($324 per square foot)
– Banner Multispecialty Clinic at 7901 E 22nd Street, sold for $2.4 million ($290 per square foot)
This sale is part of Banner Health’s ongoing efforts to optimize its real estate assets and focus on providing top-quality care to patients. With over three decades of experience catering to sophisticated institutional investors, The VanBarton Group was an ideal partner for this transaction.
Overall,this deal showcases the strong demand and value placed on quality healthcare facilities by savvy real estate investors like The VanBarton Group.
