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September 22, 2023
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Lionstone Investments Buys Medical Office Property in Newport Beach for $125 Mil


Lionstone Investments acquired Newport Lido Medical Center, a 146.5k sf, two-building medical office complex in Newport Beach, in an all-cash deal. The property traded for $125 mil ($856/sf).

Located at 351 and 361 Hospital Rd, Newport Lido Medical Center is situated on the campus of the 434-bed, Hoag Hospital Newport Beach. The hospital is consistently ranked by U.S. News & World Report as the best hospital in Orange County and one of the 10 best hospitals in California.

The two-building medical office complex is 100% occupied by a diverse mix of healthcare tenants providing stable and predictable cash flow. The property is anchored by Hoag Hospital Newport Beach Surgery Center and Prime Surgical Center.

Andrew Milne, Evan Kovac, John Chun, Matt DiCesare, Niema Beglari, Trent Jemmett, Chad Prescher, Blake Bokosky and Mark DeGiorgio with JLL represented the undisclosed seller. Additionally, JLL’s Monica Enes and Kellie Hill provided local healthcare expertise.

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