Recent Acquisitions Show REITS, Large-Portfolio Owners Investing Again

Real estate management, investment, and development companies Grubb & Ellis Healthcare REIT II, Behringer Harvard, and PSIP Cam Brea, LLC--an affiliate of industrial and commercial real estate firm Cohen Asset Management, Inc.--recently made substantial commercial property investments, indicating that REITs and large-portfolio owners across the country are gaining confidence again.

The healthcare REIT, which is heavily focused on investing medical office buildings and other healthcare-related facilities, recently acquired a 98.75 percent interest in an Idaho medical office property, Pocatello Easy Medical Office Building. The property, built in 2007, is 100 percent short-term leased to Pocatello Health Services, LLC and Pocatello Hospital, LLC through 2018 and 2019 respectively. Grubb & Ellis’s healthcare REIT will complete the renovations and expansions currently in progress.

PSIP Cam Brea, LLC followed Cohen’s strategy of a cash flow driven model that allows the company to offer liquidity to private property owners and institutions when it recently acquired six Orange County, Calif., industrial properties.

Meanwhile, Behringer Harvard acquired Burnham Point, a mixed-use, 28-story high-rise in the historic Printers Row neighborhood, near downtown Chicago employment centers. The commercial real estate firm was drawn to the property partly by its outdoor amenities, which include a landscaped terrace with a sundeck and a rose garden.