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Specialist medical office building investor acquires 4 buildings in 4 months.
OrbVest, the global investment firm with strong South African roots, has just closed its fourth building acquisition since the beginning of 2021.
Fleming Island, a 76,771-square-foot office property located in Jacksonville, Florida, was bought for $14.45 million in early June. It becomes OrbVest’s first property in Florida, a state where the company has been seeking investments for the past year, and where it will acquire other properties in the near future.
Fleming Island follows close on the heels of OrbVest’s third property acquisition in New Jersey in May. Princeton 300B in East Windsor, New Jersey, is a multi-tenanted medical building with 40,028 square feet of rentable space. The Princeton 300B building significantly enhances the portfolio, as it is adjacent to Princeton 300A, a deal OrbVest closed at the end of 2020.
Other 2021 acquisitions are: Talavi Spectrum, a 74,662-square-foot, multi-tenant office building in Phoenix, Arizona (which became OrbVest’s second property in the greater Phoenix metro area); and a 11,852-square-foot Great Expressions Dental Centres office situated on 1.15 acres in Fayetteville, Georgia.
OrbVest’s strategy is to acquire profitable medical office commercial buildings in fast-growing cities across the US, on behalf of limited partner investors from over 20 countries around the globe. Many of these investors are South African-based. The company now boasts a portfolio with a total area of over 1.4 million square feet, representing more than $360 million of specialized medical real estate under management.
“We continue to believe that healthcare-related commercial real estate in the United States was able to prove its resilience before and during the pandemic and should continue its growth as an ageing population and technological progress drives increasing demand for these specialised buildings,” says OrbVest CEO Martin Freeman.
“Fleming Island is a class A-healthcare asset in an excellent location and is considered to be one of the best medical office buildings available. The Jacksonville medical office building market currently consists of a total of 8.5 million square feet with an average occupancy of 94.3%.”
OrbVest is actively pursuing additional medical office building investments across the United States to provide enhanced diversification for its investors and reduce concentration risk.
OrbVest makes investing in global real estate simple, for both small and large investors. The minimum investment required is as little as $5,000 and clients use an online platform to make and monitor their investments. The properties in the OrbVest portfolio are expected to pay regular dividends in US dollars that are distributed on a quarterly basis. OrbVest’s investment period is normally about five years. OrbVest makes offerings to accredited US investors under Rule 506 (c) of Regulation D and OrbVest SA (Pty) Ltd is a registered FSP with license number 50483.
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