Anchor Health Properties Buys Crozer-Keystone at Broomall Medical Office Building in Pennsylvania for $23.5M

HFF closes $25.35M sale of Philadelphia-area medical office building leased to Crozer-Keystone Health System
Crozer Keystone Broomall

May 22, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Crozer-Keystone at Broomall, a 57,320-square-foot, Class A cancer center and multi-specialty outpatient facility in the Philadelphia-area community of Broomall, Pennsylvania.

HFF marketed the property on behalf of the seller, Capital Solutions. Anchor Health Properties purchased the asset free and clear of existing debt.

Crozer-Keystone at Broomall is located at 30 Lawrence Road in the dense infill Route 3 corridor of northern Delaware County. Positioned just six miles outside of Philadelphia, the medical office building draws from eight hospitals and more than 330,000 residents within a five-mile radius. Crozer-Keystone Health System, which is the dominant health system in Delaware and Chester counties with 63% market share, leases the entire facility on an absolute triple net master-leased basis.

The HFF investment advisory team representing the seller was led by members of HFF’s healthcare capital markets team, including director Ben Appel, managing director Evan Kovac and associate Andrew Milne as well as senior managing director Doug Rodio.