Indianapolis-based publicly traded REIT purchases 104,912-square foot facility that is fully leased to LUMC, a Loyola University Health Systems subsidiary.
(Chicago, Ill. – Jan. 18, 2012) Duke Realty, a leading owner, manager and developer of healthcare properties in the United States has added to its suburban Chicago medical office portfolio with the acquisition of Burr Ridge Medical Center. The 104,912-square foot facility is fully leased to Loyola University Medical Center (LUMC), a subsidiary of Loyola University Health Systems (LUHS), one of the leading hospitals in the Chicago metropolitan area and part of Trinity Health, the fourth largest Catholic healthcare system in the United States. The acquisition of this facility raises Duke Realty’s total owned and managed healthcare portfolio in Chicago to 570,177 square feet.
“The acquisition of Burr Ridge Medical Center is consistent with Duke Realty’s strategy of expanding its investment in healthcare assets supported by strong healthcare systems,” said Keith Konkoli, Senior Vice President of Duke Realty’s Midwest healthcare operations. “Burr Ridge Medical Center is a new Class A, state-of-the-art facility and the largest academic medical center in the Chicago suburbs. Plus it is affiliated with LUHS, Chicago’s premier academic healthcare services provider.”
Open since March 2011, Burr Ridge Medical Center continues LUHS’ focus on providing medical services to suburban Chicago residents in locations convenient to where they live and work. Burr Ridge houses LUMC’s musculoskeletal, orthopedics and neuroscience service lines, rehabilitation facilities and full-service imaging, as well as other physicians and healthcare practices. The facility also includes a “Center for the Senses” which encompasses otolaryngology, ophthalmology and audiology and features an optical shop and hearing center. The facility is located at 6800 N. Frontage Road in Burr Ridge, just off I-55 and County Line Road.
About Duke Realty
Duke Realty owns and operates approximately 143 million rentable square feet of industrial, office and healthcare assets in 18 major U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com.
With more than 20 years in the industry, Duke Realty’s healthcare team offers proven experience in providing hospitals and physician groups comprehensive planning, development, ownership and facility management services. Duke Realty’s medical office portfolio projects range from small medical office buildings to large healthcare centers with diagnostics, oncology and surgery services.
Duke Realty’s healthcare division was created by the February 2007 acquisition of Bremner Healthcare by Duke Realty. To find out more, please visit www.dukerealty.com/healthcare.
About Loyola University Health System
Based in the western suburbs of Chicago, Loyola University Health System is a quaternary care system with a 61-acre main medical center campus, the 36-acre Gottlieb Memorial Hospital campus and 22 primary and specialty care facilities in Cook, Will and DuPage counties. The medical center campus is conveniently located in Maywood, 13 miles west of the Chicago Loop and 8 miles east of Oak Brook, Ill. The heart of the medical center campus, Loyola Hospital, is a 569-licensed-bed facility. It houses a Level 1 Trauma Center, a Burn Center and the Ronald McDonald® Children’s Hospital of
Loyola University Medical Center. Also on campus are the Cardinal Bernardin Cancer Center, Loyola Outpatient Center, Center for Heart & Vascular Medicine and Loyola Oral Health Center as well as the LUC Stritch School of Medicine, the LUC Marcella Niehoff School of Nursing and the Loyola Center for Fitness. Loyola’s Gottlieb Memorial Hospital campus in Melrose Park includes the 264-bed community hospital, the Gottlieb Center for Fitness and the Marjorie G. Weinberg Cancer Care Center.
About Trinity Health Based in Novi, Mich., Trinity Health is one of the largest Catholic health systems in the United States. It operates 47 acute-care hospitals, 401 outpatient facilities, 31 long-term care facilities, and numerous home health offices and hospice programs in 10 states. Employing more than 53,000 full-time staff, Trinity Health has operating revenue of $9 billion. As a not-for-profit health system, Trinity Health reinvests its profits back into the community through programs to serve the poor and uninsured, manage chronic conditions like diabetes, health education and promotion initiatives, and outreach for the elderly. In fiscal 2010, this included nearly $460 million in such community benefits. For more information about Trinity Health, visit www.trinity-health.org or become a fan of the Trinity Health Facebook page at www.facebook.com/trinityhealth.