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Seton Healthcare Network has sold its medical office portfolio as part of a longterm strategy to devote more resources to clinical efforts.
Earlier this month, Austin's largest hospital system sold its three medical office buildings to Chicago-based Lillibridge Healthcare Real Estate Trust. The sale price wasn't disclosed.
The buildings are:
* Seton Medical Park Tower at 1301 W. 38th St. The sevenstory building has 147,000 square feet of rentable space.
* The five-story Seton Northwest Health Plaza at 11113 Research Blvd., which has 104,000 square feet of rentable space.
* Seton Southwest Health Plaza, a 29,000-square-foot building at 7900 FM 1826.
All three buildings are near major Seton hospitals and, according to Lillibridge, have occupancy rates of about 98 percent. Most of the occupants, whose current leases transfer to the new owner, are doctors who rely on Seton's clinical resources.
Seton's senior vice president of business development, Tom Gallagher,...