Global real estate investment management firm Heitman LLC bought a U.S. portfolio of 17 class-A medical office buildings spanning 1.4 million square feet for an undisclosed sum.
Princeton Medical Arts Pavilion in Plainsboro, N.J.
The PHT portfolio, which comprises new 96%-occupied buildings on the campuses of academic health systems across seven states, is among the largest medical office asset sales to have taken place, according to a release.
Heitman acquired the portfolio on behalf of an affiliate. The seller, Bentall Kennedy, was represented by JLL on behalf of a state pension fund.