Cedar Hill Medical Project Changes Hands

A German investment partnership has bought a medical building in Cedar Hill. The 12,560-square-foot medical office building is at 294 Uptown Blvd. in the Cedar Hill Village Shopping Center. 

The property is occupied by Baylor Health Care System and Children's Medical Center of Dallas. International Capital LLC acted as adviser and broker for the German investor. 

"This is the second medical property acquisition by our client in the U.S. in the last 15 months, and their first in the Dallas-Fort Worth area," International Capital's Martina Crevecoeur said. 

Jennifer Pierson of CB Richard Ellis negotiated the sale, however, terms of the cash transaction were not disclosed. 

The purchase is the second recent suburban Dallas medical building sale. A Pennsylvania firm, Universal Health Realty Trust, paid $15 million for the Forney Medical Plaza on U.S. Highway 80.