Irvine, California–(Newsfile Corp. – October 22, 2024) – Southern California private equity firm IRA Capital (“IRA”) is pleased to announce the acquisition of a 41,500 square-foot medical outpatient facility located within a 15-story luxury mixed-use development in Chicago’s South Loop neighborhood (the “Property”). Located at 1411 S. Michigan Avenue, the facility occupies five floors and is fully leased to Rush University Medical Center (“Rush”), one of Chicago’s largest and most respected healthcare providers, with a network of over 2,500 physicians across three hospitals and 15 outpatient facilities.
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Constructed in 2018 as a built-to-suit for Rush, the South Loop facility is one of the system’s largest outpatient centers, offering both adult and pediatric primary care as well as more than 20 medical specialties, solidifying its role as a critical healthcare hub in Downtown Chicago. The multispecialty clinic includes 61 exam and procedure rooms and is supported by a team of over 60 physicians. Patients benefit from advanced facilities, which feature on-site lab and imaging services, including MRI, CT, X-ray, ultrasound, 3-D mammography, and cardiac/pulmonary function testing.
IRA Capital continues to be among the most active investment groups within the healthcare real estate sector, having acquired more than $600 million year-to-date. According to IRA Capital co-founder Amer Kasm, “The Rush South Loop acquisition fits well with our strategy of investing in essential medical outpatient facilities occupied by leading health systems. Acquiring a highly improved class-A facility in a desirable infill location is a valuable addition to our existing medical outpatient portfolio, and we look forward to building upon our new relationship with Rush.”
About IRA Capital
IRA Capital is a Southern California based private equity firm founded in 2010 by partners Amer Kasm, Samir Patel, Jay Gangwal, Amer Malas, and Mohannad Malas. IRA invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, and family offices. Headquartered in Irvine, California, IRA has acquired over ten million square feet of property in 26 states, with a total capitalization greater than $3.5 Billion. To learn more, visit www.iracapital.com.
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SOURCE: IRA Capital, LLC
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