Press Release – Property Week – JV acquires Mercy Health for $84.5m
London-based 90 North Group and strategic partners Sidra Capital have acquired the Mercy Health headquarters building in Cincinnati for $84.5m (£65.3m).
The acquisition brings 90 North’s total transactions completed this year to $1.66bn. Mercy Health’s 368,447 sq ft corporate headquarters at 1701 Mercy Health Place in Ohio, was acquired by the JV from original developers Verus Partners.
“This acquisition, like other recently completed transactions in our portfolio, embraces an investment philosophy of acquiring newly developed or remodelled Class A office properties that are 100 percent leased on a long-term basis to a strong, investment grade tenant,” said Nick Judd, co-founder of 90 North.