The acquisition adds to the REIT’s growing portfolio of premier medical office properties
CA Health & Science Trust, Inc., a private real estate investment trust (REIT) focused on the acquisition and development of medical office and life science facilities across the U.S., today announced the purchase of the Mayfair Health Professional Building in the Milwaukee MSA. The property is strategically positioned on the border of Milwaukee County and Waukesha County, the most affluent county in Wisconsin.
Located approximately four miles west of downtown Milwaukee, the Mayfair Health Professional Building is situated in an outstanding, highly trafficked retail corridor and on a hard corner of a major intersection providing strong visibility and accessibility to its tenants and their patients. The property benefits from attractive nearby grocery and big box retailers including Whole Foods, Meijer, and the neighboring Mayfair Mall, which includes premier, national tenants like Nordstrom, Crate & Barrel and Macy’s. The three-story building is over 90% leased to complementary medical practices offering orthopedic, physical therapy, diagnostic imaging and other services.
“The Mayfair Health Professional Building is a fantastic addition to our growing medical office portfolio, and we have developed numerous initiatives in which we will enhance the profile and value of the property,” said Russell Brenner, President of CAHST. “We are excited to have successfully completed another attractive acquisition aligned with our value-add strategy and remain optimistic in our ability to continue to identify additional compelling investment opportunities as we expand our national portfolio,” added Jesse Ostrow, Chief Investment Officer of CAHST.
This investment increases the scale of the CAHST portfolio and platform.CAHSTintends to continue to grow its portfolio of premier medical office and life science assets across the country with the full support of Davidson Kempner, Monarch Alternative Capital and CA Ventures.
About CA Health and Science Trust, Inc.
CA Health and Science Trust, Inc. is an externally managed private Real Estate Investment Trust (REIT) based in Chicago, Illinois, strategically designed to invest in the acquisition and development of core-plus, value-add medical office and life science facilities across the United States.CAHST currently owns seven medical office buildings with over 410,000 square feet of rentable space, in addition to numerous development parcels for future projects. CAHST is funded by prominent global investment firms Davidson Kempner and Monarch Alternative Capital, and is externally managedby CAHST Management LLC, a global vertically integrated real estate investment management company affiliated with CAVentures. For more information, visit www.cahstreit.com.