A joint venture between Caddis® and a client of Invesco Real Estate, a global real estate investment manager, has acquired the 41,205 square foot Hand to Shoulder Center in Indianapolis.
The single-tenant medical office building (MOB) and ambulatory surgery center at 8501 Harcourt Road is the headquarters for 10 additional Hand to Shoulder locations throughout the Indianapolis area. Hand to Shoulder physicians, staff and services will continue to occupy the building.
Jason L. Signor, CEO of the Dallas-based national healthcare real estate firm, notes, “We’re pleased to acquire the Indiana Hand to Shoulder Center, which has an excellent reputation as a leader and innovator in the prevention and treatment of upper extremity disorders and injuries. The Center is also well known for its advanced teaching programs for orthopedic surgeons.”
Chris Morgan, Caddis Manager of Acquisitions, added, “Since its founding in 1971, the Center has grown and succeeded and now serves more than 50,000 patients annually. It is also ideally located at the entrance of the main campus of St. Vincent/Ascension Hospital. This was a very attractive opportunity for Caddis and our joint venture partnership.”
BMO Harris Bank’s Healthcare Real Estate Finance group provided financing for the project.