OrbVest Global Real EstateInvestment Overview
OrbVest is pleased to present the Cincinnati Medical Office Portfolio which is comprised of two well-maintained Class A Medical Office properties in Cincinnati, Ohio (“the Portfolio”). The Portfolio totals 67,356 SF with a current occupancy of 95%, representing a great opportunity to acquire a stabilized medical office portfolio in two of Greater Cincinnati’s most desirable submarkets, Kenwood and Red Bank.
The first property in the Portfolio, Kenwood Crossing II, is located in the Kenwood submarket and was completed in 2008. The property is two stories and is currently 100% occupied. The second property in the Portfolio, Red Bank Village, is located in the Red Bank medical corridor and was completed in 2007. This property is also two stories and is currently 91% occupied. The Red Bank property has one vacant space totaling 3,356 SF. OrbVest plans to effectively advertise this space to lease up in the first year of ownership to boost revenue and occupancy.
Both properties in the Cincinnati Medical Office Portfolio are situated within close proximity to their respective market Hospital System drivers. The Kenwood property is located near the Mercy Health’s The Jewish Hospital (184 total staffed beds) and the Red Bank property is located near the 400,000 SF campus for Medpace, a leading global clinical research organization. The Red Bank property is also in close proximity to The Christ Hospital’s (555 total staffed beds) 65,000 SF medical campus, which is home to both primary and specialty care services, along with surgical, imaging and laboratory facilities.
The Portfolio has a strong in-place cash flow and a healthy tenant mix, including DaVita Dialysis, a national provider of dialysis services; TriHealth, one of Cincinnati’s leading hospital systems; and OrthoCincy, a leading regional provider of orthopedic medicine.
