DuPage Medical Group (DMG), of Downers Grove, Illinois (www.dupagemedicalgroup.com) has recently sold a group of trophy MOBs to Harrison Street Realty Capital (HSRE). A preliminary accounting through public records shows DMG monetized over 400,000 SF and $200M worth of MOBs. The transactions closed in early/mid May. Among the assets that traded was the DMG MOB in Lisle, IL. The 95,000 SF MOB constructed in 2008 sold to HSRE for $548/SF. Subscribers to Revista can view all properties involved through the transaction comps module.
DMG is the largest, independent physician group in the Chicago suburbs. DMG was purchased in November 2017 for $1.45B by Ares Management, L.P. (NYSE: ARES) in an effort to fuel growth and maintain physician independence. HSRE has been extremely active in the Chicago MSA and has helped to drive MOB transaction volume up 45% during the past 12 months.
DuPage Medical Group MOB in Lisle, IL