MBRE Healthcare acquiring north suburban medical office portfolio

Deal includes a 3-building Glenview campus picked up for $21M

Mar.March 04, 2019 03:00 PM

MBRE Healthcare President Peter Westmeyer and 2591 Compass Road (Credit: MBRE Healthcare and Colliers International)

MBRE Healthcare is acquiring a north suburban medical office portfolio, including a three-building complex in Glenview.

The Chicago-based firm bought the Prairie Glen Medical Office Center at 2501-2591 Compass Road for $21.1 million from Titan Development Company, according to Cook County records.

Capital One provided a $66 million loan to finance MBRE’s acquisition of the portfolio, a company spokesperson said. The Glenview property was included, but the spokeperson declined to give details on the other properties, saying those deals haven’t closed yet.

The Glenview complex totals 74,000 square feet inside The Glen mixed-use development. Brokers on the deal were Dimitri Development and Paul Zeman of Bull Realty, according to Bisnow.

MBRE Healthcare is a division of MB Real Estate specializing in medical uses. The firm last year bought 93,000 square feet of medical offices in a Streeterville building from Driftwood Hospitality Management.

Related Articles

Founder and CEO of Level Ex Sam Glassenberg and 180 North LaSalle St. (Credit: Google Maps)

Medical gaming company inks sublease deal in River North

Ald. Andre Vasquez (40th) and 5500 N. Wolcott Ave. (Credit: Google Maps)

Ald. Vasquez says Temple Steel campus won’t give way to luxury housing

A rendering of the Target warehouse at 3501 S. Pulaski Road and Target CEO Brian Cornell (Credit: Hilco Redevelopment, Target)

Target takes aim at massive warehouse in Little Village

From left: CEO and founder of CA Ventures Thomas Scott, CEOs of WeWork Sebastian Gunningham and Artie Minson, and a rendering of the building

WeWork has troubles, but it also has a new location in River North

The Bolingbrook property along route 53 and Amazon CEO Jeff Bezos (Credit: Google Maps, Getty Images)

Amazon pays $51M for site of former Chicagoland amusement park

Jeff Bezos and the Old Wrigley gum factory at 3535 S. Ashland Avenue (Credit: Getty Images and Google Maps)

Chew on this: Former Wrigley gum factory pitched as potential Amazon warehouse

Peter E. Ricker, Chairman and CEO of MBRE, and 800-810 West Madison Street (Credit: MBRE and Google Maps)

MB Real Estate pays $19M for office building near Fulton Market

W. P. Carey Inc. CEO Jason E. Fox, Pritzker Realty Group founder and Chairman Penny Pritzker, 150 N. Clinton St. (Credit: Google Maps)

WP Carey and Pritzker Realty make big moves in West Loop