Updated Nov 9, 2026
Kerry L. Heinrich Of Adventist Health Acquires Medical Office In Glendale For $39.05M
1500 East Chevy Chase Drive
$39,050,000
$512/SF
Building Size
76,197 SF
Asset Type
Medical Office
Closing
Nov 3, 2026
About this deal
AI
The medical office asset involved in the transaction is the Lee Hughes Medical Building, which encompasses a total of 76,197 square feet. It is located at 1500 East Chevy Chase Drive in Glendale, California, and was sold for $39,050,000, equating to approximately $512.49 per square foot.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $39,050,000
- Address: 1500 East Chevy Chase Drive
- Market: Glendale, CA
- Square Footage: 76,197
- Price per Square Foot: $512
- Buyer: Kerry L. Heinrich - Adventist Health
- Seller: Shankh Mitra - Welltower
Kerry L. Heinrich represents Adventist Health in this acquisition, while Shankh Mitra represents Welltower in the sale of the medical office property. This transaction is part of Welltower's strategic shift as it exits medical office properties to concentrate on seniors housing initiatives.
On the Map
$39,050,000
$512/SF
Medical Office
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Players
Mount Airy Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93