Mohawk Asset Management Corp. Announces the Purchase of a Medical Office Building in Syracuse, New York
TORONTO, June 28, 2021 /CNW/ - Mohawk Asset Management Corp. ("Mohawk"), a Toronto-based alternative asset management firm specializing in healthcare real estate, announced today the formation of Mohawk Syracuse (West Taft) Opportunity Partners (II) LP and its purchase of a medical office building in Syracuse, New York.
The West Taft Medical Center is a 51,000 square foot, two story structure in the Syracuse adjacent community of Liverpool. The building's tenancies include cardiology, diagnostic lab, general dentistry, oral surgery, family care clinic, and endodontic and prosthodontics specialists.
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 state of New York this year.
SOURCE Mohawk Asset Management Corp.
For further information: Oleg Primack, Investment Associate, Mohawk Asset Management Corp., Phone: 416-532-2200