Greenwich Medical Center, a 106,092-square-foot medical campus in Greenwich, has sold for $65 million, according to a brokerage firm involved in the deal.
The property at 75 Holly Hill Lane was acquired by Healthcare Realty Trust Inc., a Nashville-based real estate investment trust.
Healthcare Realty said it purchased the property through a joint venture with investment firm KKR and that its own stake in the deal totals about $13 million.
The seller was Benedict Realty Group.
Newmark said it arranged the sale on behalf of Benedict Realty Group. Ben Appel, Justin Shepherd and Jay Miele, Newmark’s co-heads of U.S. medical office capital markets, led the deal, along with John Nero, the firm’s U.S. head of medical office debt.
The Class A outpatient campus, renovated in 2016, sits along West Putnam Avenue, known locally as Greenwich’s “Doctor’s Row,” and is 97% leased, according to Newmark. Yale New Haven Health and Stamford Health anchor the building’s tenant roster.
Healthcare Realty said the acquisition expands its relationship with the two health systems and adds to its existing footprint of 10 other properties in the Greenwich market.
“Greenwich has a cache that outshines most U.S markets, attracting both private and institutional investor interest from domestic and abroad,” Appel said in a statement.
