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Will This Be The Biggest MOB Portfolio Sale Since Duke Realty?

CNL Financial Group is planning to sell the medical office building portfolio owned by its Orlando-based CNL Healthcare Properties REIT. The portfolio includes 54 MOBs totaling about 3.26M SF, Healthcare Real Estate Insights reports.


HREI cited anonymous sources familiar with the deal, and also said that CNL has hired HFF and KeyBank to market the properties.

The REIT holds other assets besides MOBs, including senior housing, post-acute and acute care facilities, but the other properties are reportedly not going to be put up for sale.

Among other medical office properties, the REIT owns Midtown Medical Plaza and Presbyterian Medical Tower, both in Charlotte, North Carolina, along with Bend Memorial Clinic in Bend, Oregon, and Center One in Jacksonville, Florida.

If the deal transpires, it would be the largest MOB portfolio transaction since Healthcare Trust of America agreed to buy Duke Realty Corp.’s entire medical office portfolio for $2.75B. That deal included 78 properties totaling 6.1M SF.

CNL Healthcare Properties is a non-traded REIT that closed to new investors in 2015. It isn't the same as CNL Healthcare Properties II, which is still open to new investors.