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Medical properties change hands

July 2, 2008

Grubb & Ellis Healthcare REIT Inc. has acquired 13 health care properties in the Indianapolis area from HCP Inc., a real estate investment trust headquartered in Long Beach, Calif., for an undisclosed price.

The portfolio is spread across 20 buildings and 689,000 square feet, said Grubb & Ellis, which is based in Santa Ana, Calif.

Clarian Health occupies nine of the 13 properties. Grubb & Ellis said it wanted the properties because Clarian outpatient locations near Interstate 465 ensured a reliable flow of rent.

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