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Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many U.S. states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
Healthcare real estate, or "medical real estate", describes buildings, ... In 2014, 7.1 million square feet of medical office space was developed across the country. [3]
Medical Properties Trust, Inc., based in Birmingham, Alabama, is a real estate investment trust that invests in healthcare facilities subject to NNN leases. The company owns 403 properties in the United States , Australia , Colombia , Germany , Italy , Portugal , Spain , Switzerland , Finland , and the United Kingdom .
CityPlex Towers, originally known as City of Faith Medical and Research in Tulsa, Oklahoma. There are three triangular towers with over 2,200,000 square feet (200,000 m 2) of office space. The tallest is the 60-story CityPlex Tower which at 648 feet (198 m) is the third tallest building in Oklahoma (after Devon Tower and BOK Tower).
In 2005, the company sold 5 buildings in San Francisco for $400 million. [5] The company also acquired a portfolio in California for $263 million. [citation needed] In 2006, the company acquired Pointe O'Hare I, an office building near O'Hare International Airport for $59 million [6] and a property in Boca Raton, Florida for $29.5 million. [7]
The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount and shares the rest with the property owner.
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