IRA Capital Acquires North Hills Health Center for $60 Million
October 21, 2020 -
Southern California private equity firm IRA Capital “IRA” is pleased to announce the $60 Million acquisition of North Hills Health Center in Menomonee Falls, Wisconsin.
The medical campus comprises two class-A buildings totaling 119,000 SF that are 100% occupied by Froedtert Health, a five-hospital system and the primary teaching affiliate of the Medical College of Wisconsin. Froedtert provides a range of outpatient services at the North Hills facility including an MRI/imaging center, a fertility clinic, a sleep center, a women’s health center, a pulmonary rehab facility, an occupational medicine clinic, and a walk-in urgent care, among others. The buildings also house two of the health system’s subsidiaries; Inception Health, which serves as Froedtert’s innovation arm that focuses on rapid testing and scaling digital health solutions, and Exceedent, which is a full-service health care third party administrator owned by Froedtert.The North Hills asset is strategically located in between two of Froedtert’s largest hospitals, positioning the asset for continued success in a submarket where Froedtert has the only level I trauma center for adults. According to IRA Capital partner Samir Patel, “Froedtert’s ability to provide the range of outpatient services at its North Hills campus provides a large benefit to the system and its healthcare delivery model. IRA Capital is looking forward to continue strategically expanding its portfolio in the region with its health system partners.” IRA Capital is among the most active healthcare real estate investors this year despite the ongoing challenges caused by the COVID pandemic. The Froedtert North Hills purchase represents the company’s 17th healthcare acquisition in the past 6 months, totaling over $350 Million.
About IRA Capital
IRA Capital “IRA” is a Southern-California based private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices, and individuals. IRA invests in commercial real estate assets throughout the United States, with a primary focus on the medical/healthcare real estate sector. Headquartered in Irvine California, IRA has acquired over six million square feet of property across 25 states, valued in excess of $2 Billion. To learn more, visit www.iracapital.comFor more information, please contact:Sophia Doan, Corporate Communications + 1 949 612 2742 / sdoan@iracapital.com
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