Mohawk Asset Management Corp. Announces the Purchase of a Medical Office Building in Chicago (Naperville), Illinois
TORONTO, Jan. 11, 2022 /CNW/ - Mohawk Asset Management Corp. ("Mohawk"), a Toronto-based alternative asset management firm specializing in healthcare real estate, announced today the formation of Mohawk Chicago (DuPage County) Opportunity Partners (III) LP and its purchase of a medical office building in Naperville, Illinois.
The Lakeside Medical Office Building is a lakeside-setting, 50,000 square foot, three story structure in the growing town of Naperville, DuPage County, a western suburb of Chicago. The building's tenancies include sports medicine, pediatric physiotherapy, dentistry, and financial and business services.
The property was financed by an amortizing bank mortgage at 3.9% for a five-year term.
The equity offering was placed by way of a non-brokered selling group including Canaccord Genuity Corp. and Richardson Wealth Limited and direct investment from a private family office in New York City.
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 and American 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 a second property in DuPage County, Illinois in Q1 2022.
SOURCE Mohawk Asset Management Corp.
For further information: please contact: Oleg Primack, Investment Associate, Mohawk Asset Management Corp., Phone: 416-532-2200