Mohawk Asset Management Corp. Announces the Purchase of a Medical/Professional Office Building in Chicago, IL (Palatine)
TORONTO, Aug. 31, 2020 /CNW/ - Mohawk Asset Management Corp. ("Mohawk"), a Toronto-based private equity and alternative asset management firm specializing in healthcare real estate, announced today the formation of Mohawk Chicago (Countryside) Opportunity Partners (II) LP and its purchase of a medical/professional office building in Chicago, Illinois.
The Countryside Medical/Professional Office Building is a 112,000 square foot, two story structure in the Chicago adjacent community of Palatine. This fully leased medical/professional building's 45 tenancies include pediatric therapy, behavioral health, home health, chiropractic, telemedicine, dentistry, law, accounting, architecture, engineering and insurance firms.
The property was financed by an amortizing bank mortgage at 3.9% for a five-year term.
This acquisition represents a continuation of Mohawk's cross-border investment platform called 'Mohawk America' which invests in U.S. healthcare real estate with cash flow stability and growth potential, syndicated to Canadian investors.
Mohawk Medical Management Corp. will bring its expertise in medical office building management to provide specialized professional management services to tenants and patients at the building.
Mohawk anticipates closing on future opportunities in the Greater Chicago area this year.
SOURCE Mohawk Asset Management Corp.For further information: please contact: Oleg Primack, Investment Associate, Mohawk Asset Management Corp., Phone: 416-532-2200