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January 7, 2021 Deal Watch Today

Minneapolis realty investor enters CT with $8.9M Manchester medical office purchase

CoStar 360 Tolland Turnpike -- known as the EastPoint Office Center -- in Manchester.

A Minneapolis-based national healthcare real estate investment firm has acquired a Manchester medical office building for $8.9 million and is looking for other deals in Connecticut, the firm’s founder said.

Davis Medical Investors LLC completed its purchase of 360 Tolland Turnpike -- known as the EastPoint Office Center -- in early December, marking its first deal in Connecticut, according to Mark Davis, the firm’s founder and managing partner. 

The purchase was part of a national buying spree in which Davis purchased eight medical office buildings in four states --  including Tennessee, Minnesota, Ohio and Connecticut -- for a total of $112 million, Davis said. 

The 43,790-square-foot Manchester building was built in 1989, previously owned by TOLLAND TPKE ASSOC LMTD PTSHP, town records show, and has about a dozen tenants including Hartford HealthCare, Davis said. 

“We’re really excited about our acquisition of the 360 Tolland Turnpike medical building,” Davis said. “This is our first acquisition in Connecticut and we hope to acquire many more properties in the near future.”

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