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Vital Infrastructure Property Trust buys EmblemHealth- leased Brooklyn MOB
The 140,000-square-foot medical office building is fully leased long term to EmblemHealth, New York’s largest independent physician group.
ConnectCRE says Newmark arranged the sale of the Emblem Health Hub Medical Office Building in Brooklyn for $89 million.
The property, a purpose built 140,000-square-foot medical office building at 101 Pennsylvania Ave. in East New York, was acquired by Vital Infrastructure Property Trust, a Canada based global healthcare infrastructure REIT, from developer Dominion Management Company.
ConnectCRE reports Emblem Health Hub is fully leased long term to EmblemHealth, described as New York’s largest independent physician group.
The outlet adds that institutional investors are showing continued interest in high quality medical office assets backed by strong healthcare operators, with demand noted from markets including the U.S., Canada, the Middle East, the UK, and Asia.