Fridley Medical Center

Project Overview

PRECAP’s managing principal represented a partnership of a developer and physicians affiliated with Multicare Associates, a premier multi specialty group located throughout the Twin Cities. The 60,000 square foot, on-campus, building was 100% occupied at the time of sale by a range of synergistic tenants including Multicare Associates, Virginia Piper Cancer Institute, Allina Health, and Minnesota Oncology. After the sale, Multicare Associates was acquired by North Memorial Health, a health system with a strong presence in Minnesota and Wisconsin. The buyer was a real estate investment trust (REIT) focused on acquiring on-campus medical office buildings.