Ventas Buys Outpatient Facility for $81M

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Ventas Buys Outpatient Facility for $81M

DURHAM, NC-Ventas, has acquired a 125,942 square meter ambulance here for $ 80.5 million. The seller is Private Diagnostic Clinic, Duke Health's 1,800-strong subsidiary.

JLL's Mindy Berman was the exclusive advisor to the seller.

The five story facility was built in 2018 to consolidate 14 critical subspecialties of the Duke Health company in the Southpoint submarket of Durham. The outpatient center is the largest off-campus facility in Duke Health's outpatient network and houses neurology, cardiology, ophthalmology, obstetrics / gynecology, pediatric, and primary care practices. The PDC and the Duke University Health Care System occupy the entire property under long-term net leases.

Berman reports that the Duke Health Center South Durham was in great demand with top institutional investors.

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