Calko Medical Center

New York City
Medical Office Building & Ambulatory Surgery Center
100,000 SF

Lands End Capital advised Physicians Realty Trust (NYSE: DOC) and Med Properties Realty Advisors in their off-market acquisition of the Calko Medical Center located in Brooklyn, New York. This transaction marks a significant milestone as one of the largest-ever trades in the history of multitenant medical office buildings in New York City. This Class-A, free-standing facility, constructed in 2013, encompasses 85,567 rentable square feet and is anchored by Maimonides Medical Center and associated physicians. The property is fully leased and occupied, boasting a 100% occupancy rate through 14 triple net leases with an average remaining term of approximately 7 years. Key tenants include Maimonides Medical Center (31% GLA), Brooklyn Surgery Center (25% GLA), and RadNet Imaging (11% GLA). The Brooklyn Surgery Center, a joint venture with physicians and Maimonides Medical Center, serves as the anchor of the building and has been recognized by Newsweek as the 4th best Ambulatory Surgery Center (ASC) in New York state and the premier surgery center in Brooklyn.