Toronto firm buys Ottawa medical buildings

Default image

Toronto-based Mohawk Medical Growth Partners announced Thursday it has purchased the Kanata Medical Arts Building on Kakulu Road and Nepean Medical Centre on Centrepointe Drive. 

Specific financial terms of the deal were not released, but Mohawk said in a release the purchase wraps up $60 million worth of acquisitions for the company in the last 90 days.

Mohawk is promising to “provide 'best in class' medical specific, property management and leasing services” to the 84 medical professionals who currently occupy 98 per cent of the buildings.

Timbercreek Senior Mortgage Investment Corporation provided first mortgage financing. Equity financing was comprised of a brokered and non-brokered private placement.