The Real Deal New York

Arizona-based REIT pays $18.75M for Westport Center for Health

February 14, 2019 09:48AM

A 38,000-square-foot medical complex in Westport has been sold to Healthcare Trust of America, a Scottsdale, Arizona-based real estate investment trust, the Fairfield County Business Journal reported. The Westport Center for Health at 323-329 Riverside Avenue, home to Yale New Haven Health’s Northeast Medical Group, fetched $18.85 million in a sale arranged by Newmark Knight Frank’s Boston-based capital markets team. The complex, which had been owned by the Davis Companies, also houses the Westport Dermatology & Laser Center, Westport Dental Associates and other medical offices. Michael Greeley, senior managing director of NKF’s medical-academic practice group and an adviser to the seller, said in a statement that the property is “one of Fairfield County’s premiere medical office campuses,” noting that it overlooks the Saugatuck River. [FBJ]