Publicly traded REIT acquires 100 percent leased, five-building portfolio in Hamilton, Ohio
(INDIANAPOLIS and CINCINNATI – March 12, 2012) Duke Realty, a leading owner, manager and developer of healthcare properties in the United States, has acquired five 100 percent leased medical buildings in Hamilton, Ohio, a northern suburb of Cincinnati. The acquisition of these healthcare properties raises Duke Realty’s portfolio of owned and managed healthcare properties in the Cincinnati market to 247,890 square feet and its nationwide portfolio to nearly 4.2 million square feet.
The buildings, which are located at 3035, 3055, 3075, 3125, and 3145 Hamilton Mason Rd., on the five-acre Butler County Medical Campus, include physician offices, a sleep center, an imaging center and a 10-bed inpatient surgical hospital, and are 100 percent leased by Bethesda North Hospital. In conjunction with the acquisition, Duke Realty will expand the building located at 3075 Hamilton Mason Rd., adding a 10,500-square foot Emergency Department, and the entire campus will become part of the TriHealth system and be known as TriHealth’s Bethesda Butler County.
“This acquisition increases our medical office presence in the Cincinnati market and furthers our relationship with TriHealth and Bethesda,” says Keith Konkoli, Senior Vice President of Duke Realty’s Midwest healthcare operations. “This acquisition is consistent with Duke Realty’s strategy of expanding its investment in healthcare assets supported by strong healthcare systems.”
Duke Realty’s relationship with TriHealth began in 2007 when it was selected to develop Good Samaritan Medical Center at Western Ridge, a 49,699-square foot medical office building (MOB) on Cincinnati’s west side. Since then Duke Realty has completed the second facility on the Western Ridge campus, a 29,490-square foot MOB.
About Duke Realty
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, leasing, and facility management services. Projects have ranged from small medical office buildings to large ambulatory care centers with diagnostics, oncology and surgery services. To find out more, please visit www.dukerealty.com/healthcare.
Duke Realty owns and operates approximately 136 million rentable square feet of industrial and office assets, including medical offices, 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.
Bethesda and Good Samaritan Hospital joined together to form TriHealth in 1995, bringing together two of Cincinnati’s finest health care organizations. Through these two acute care hospitals and more than 80 locations, TriHealth provides a wide range of clinical, educational, preventive and social programs. TriHealth’s non-hospital services include physician practice management, fitness centers and fitness center management, occupational health centers, home health and hospice care.