April 15, 2024
MINNEAPOLIS – Transwestern Real Estate Services (TRS) announces it represented Hammes Partners, a private investment platform focused exclusively on healthcare real estate, in the acquisition of three medical office assets in the Minneapolis area totaling 50,853 square feet. The transaction was led by Vice President Frank Richie with the assistance of Managing Principal Mike Salmen and Senior Associate Erik Coglianese, members of Transwestern’s Midwest Capital Markets and Asset Strategies team.
The portfolio includes:
- 2380 Rosemary Way in Lino Lakes, Minnesota, a new, fully leased, state-of-the-art medical office building comprising 12,411 square feet
- 525 N. Knowles Ave. in New Richmond, Wisconsin, a new, fully leased, state-of-the-art medical office building comprising 19,537 square feet
- 2950 Curve Crest Blvd. in Stillwater, Minnesota, a fully leased 18,905-square-foot medical office building
This transaction follows Hammes Partners’ purchase earlier this year of the 160,000-square-foot Hudson Medical Center in Hudson, Wisconsin, which was also brokered by Frank Richie and the Transwestern team.
“Healthcare real estate, especially quality medical office buildings with long-term leases in growing markets, continues to be a sought-after asset class,” said Richie. “We are pleased to help Hammes expand its footprint in the market and build mutually beneficial relationships with top-tier tenants.”
Dean Williamson and Ross Hedlund represented the owner, Frauenshuh in the transaction. The sale price was not disclosed.
Photos available for download:
About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.
Four dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at transwestern.com and @Transwestern.
Media Contact:
Mallory Martin
312.881.7022
mallory.martin@transwestern.com
twmediarelations@transwestern.com
