Newport Beach based investor Archer Property Partners has quietly snapped up a trio of community medical office buildings across Orange County, taking over MemorialCare clinics in Rancho Santa Margarita, Mission Viejo, and Costa Mesa. The off-market portfolio traded for about $18 million and keeps MemorialCare in place as the anchor tenant at all three sites. Archer says it will roll out targeted upgrades while keeping the buildings focused on neighborhood primary care.
Deal details
In a March press release, Archer described the off-market transaction as a “relationship driven” deal and said the properties had been owned by a partnership that included MemorialCare, according to Archer Property Partners. The firm reported that Andy Knott and Austin Kanzler of CBRE represented the seller, while Archer went without its own broker on the acquisition.
Price and properties
The three-building portfolio sold for about $18 million, according to L.A. Business First. The deal covers MemorialCare clinics at 29472 Avenida de las Banderas in Rancho Santa Margarita, 23512 Madero Road in Mission Viejo, and 722 Baker Street in Costa Mesa, per MemorialCare…