Memorial sells medical office bldg.

Filed under: Daily News,Health Care,Real Estate |

Ventas Inc.of Louisville, Ky. has purchased Memorial Health System’s 223,000-square-foot medical office building at 175 S. Union Blvd. for $52 million.

Hospital CFO Gary Flansburg said the transaction, which also included the sale of second building at 8890 N. Union Blvd. for more than $13.8 million, was completed Oct. 1, following negotiations that began during June.

Neither the buyer nor Memorial Hospital Systems was represented by a broker.

“We narrowed the prospects to those who had the capital and who, in our view, would do the best job of property management,” Flansburg said, emphasizing that many of the buildings’ physicians and medical tenants would continue to lease from the new owner.