Glendale Medical Center

Los Angeles, CA

Acquired July 2022

At a Glance

The asset is 100% leased to Glendale Adventist Medical Center on a net basis with nearly 11.5 years of remaining lease term and 2.5% annual rent escalations.

Investment Rationale

  • Leased by Glendale Adventist since 2003, this outpatient therapy and rehab center serves the Glendale Adventist Medical Center Hospital that hosts 515 beds and is located just one mile from the Property.

  • This location is critical for Adventist as it is located less than one mile from the Adventist Health Glendale Hospital. The hospital sends patients directly to this facility for long-term recovery after surgery.

  • Located in the Glendale neighborhood of Los Angeles, the Property is surrounded by affluent and dense demographics, in a market experiencing strong Medical Office Building (MOB) fundamentals. The market has sub 7% medical office vacancy, positive medical office net absorption in 2021 and limited new supply coming given the lack of available land.

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