WI: ProHealth Care Purchases Adjacent Property, Signaling Possible Expansion
12 Nov, 2018
ProHealth Care bought 17.8 acres adjacent to its joint-venture partner Orthopaedic Associates of Wisconsin’s facility in Delafield, according to the following article in the Milwaukee Business Journal.
ProHealth Care paid $3.5 million for the property, according to a deed filed Friday with the Wisconsin Department of Revenue. The seller was a limited partnership related to Fiduciary Real Estate Development of Milwaukee, the document said.
A ProHealth spokeswoman said Tuesday the Pewaukee-based health care system has “no immediate plans” for the parcel on Golf Road that fronts on Interstate 94.
Orthopaedic Associates opened its $23 million town of Delafield facility in June 2016.
The 71,000-square-foot building is the primary location for Orthopaedic Associates of Wisconsin. The site houses an accredited ambulatory surgery center that Orthopaedic Associates owns in a joint venture with ProHealth Care.
In April, Orthopaedic Associates sold its 7.1-acre property to Montecito Medical Real Estate of Nashville, Tenn. The main transaction price was $24.2 million. Three tenancy-in-common (TIC) companies also were listed as selling the same property for $3.45 million each, according to filings with the state.