Lincoln and PGIM Buy Denver Medical Pavilion for $100M+
Event summary
- Lincoln Property Company and PGIM acquired St. Joseph Medical Pavilion, a 99,503 sq ft Class A outpatient facility in Denver.
- The property is 82% leased with tenants including Intermountain Health and specialty physician groups.
- PGIM’s $218B AUM supports its core-plus strategy targeting healthcare real estate.
- Lincoln expands Denver presence and national healthcare platform with this acquisition.
The big picture
This deal reflects a broader trend of institutional capital flowing toward needs-based healthcare real estate, particularly outpatient facilities benefiting from demographic shifts and care delivery changes. PGIM’s $218B AUM underscores the scale of investment targeting sectors with long-term tailwinds like medical outpatient and senior housing.
What we're watching
- Lease-Up Momentum
- How quickly Lincoln and PGIM fill the remaining 18% of leasable space in a competitive Denver market.
- Sector Resilience
- Whether outpatient medical real estate maintains defensive characteristics amid economic cycles.
- Portfolio Expansion
- The pace at which Lincoln grows its healthcare assets beyond Denver into other high-demand markets.
Related topics