JLL Capital Markets has facilitated the sale of Newport Lido Medical Center. JLL marketed the property on behalf of an undisclosed seller, Lionstone Investments, who acquired the property in an all-cash transaction. It’s a 146,510-square-foot, two-building medical office complex in Newport Beach, California.
Located at 351 and 361 Hospital Rd., Newport Lido Medical Center is situated in the world-renowned medical submarket of Newport Beach and is adjacent to the 434-bed, Hoag Hospital Newport Beach. The hospital is consistently ranked by U.S. News & World Report as the best hospital in Orange County and one of the 10 best hospitals in California. It is 100% occupied by a mix of healthcare tenants providing stable and predictable cash flow. The property is anchored by two surgical centers.
Newport Lido Medical Center represents one of the most significant sale transactions in the history of the medical office sector, according to JLL. There are few, if any, single-property medical office sales that have occurred in the sector’s history that rival the profile and quality characteristics embodied in Newport Lido Medical Center, including the location and demographics within Newport Beach, on-campus positioning at one of the top medical centers in the country and mix of many of the top tenants and physicians in the world, among other compelling features.
JLL Healthcare Capital Markets team
Representing the seller was led by Senior Managing Directors Andrew Milne and Evan Kovac, Managing Director John Chun and Director Matt DiCesare, with support from Niema Beglari, Trent Jemmett and Chad Prescher. Senior Director Blake Bokosky and Director Mark DeGiorgio of JLL’s Orange County office provided local expertise. Additionally, Managing Director Monica Enes and Vice President Kellie Hill of JLL’s Healthcare Brokerage team provided local healthcare expertise.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.