OU Board of Regents buys 4 medical office buildings for $20.15 million
The University of Oklahoma Board of Regents has purchased four medical office buildings in Midwest City, Edmond and Oklahoma City for $20.15 million.
In a statement, Jason Sanders, provost for the University of Oklahoma Health Sciences Center, said OU purchased the buildings in keeping with its long-term plans for growth.
“We continuously refine master space and capital plans based upon enterprise strategies and performance, including patient volume growth and integration of services,” the Health Sciences Center said in a statement. “The purchase of four metro-area medical office buildings fits with our strategic plans, and will bring value to patients, students, and
Oklahomans.”
OU purchased the buildings from the Newton, Mass.,-based real estate investment trust SNH Medical Office Properties.
Craig Tucker and Tom Fields of Price Edwards & Co. brokered the transaction on behalf of the real estate investment trust.
Not listed for sale
The properties were not listed for sale, but OU approached SNH about a possible purchase, Tucker said.
“We were approached by OU, and they were interested in purchasing, so we were able to reach an agreeable price for all parties,” Tucker said.
The properties were desirable because of an overall shortage of medical office buildings in the area, particularly around the OU Health Science Center, Tucker said.
The four buildings are at 600 National Ave. in Midwest City; 200 N Bryant in Edmond; 8315 S Walker and 701 NE 10, adjacent to the OU Health Sciences Center in Oklahoma City.
The four buildings include about 210,000 square feet of space and were built between 1982 and 1992. All four buildings were under a master lease with the Oklahoma City Clinic at the time of the sale.