Milwaukee-based Physicians Realty Trust said Wednesday it has acquired the 10-story Napoleon Medical Office Building, across the street from Ochsner Baptist Medical Facility in New Orleans, for $10.5 million.
The medical office building has 65,775 square feet of space and 89 percent of that is leased, according to Physicians Realty Trust. The New Orleans acquisition was one of five nationwide that the Real Estate Investment Trust made during November and December.
The company buys, develops and owns health care properties that are leased to doctors, hospitals and health systems. Physicians Realty also owns Crescent City Surgical Center, which houses a 60,000-square-foot physician-owned hospital on Galleria Boulevard in Metairie.