Meridian Completes $8.4 Million Sale of Dialysis Clinic in Downtown Long Beach
The outpatient clinic is located in downtown Long Beach at 1090 Atlantic Avenue, at the signalized intersection of Atlantic Avenue and East 11th Street. The building sits campus adjacent and directly across the street from Dignity Health's St. Mary's Medical Center, a 389-bed Level II Trauma Center, and south of a 7,000-square-
In January 2018, Meridian acquired three existing buildings on an assemblage of five parcels totaling 29,000-square-
"The development of the new clinic required creative adaptive reuse of an existing structure to meet city requirements,"
According to Conn, "Kidney failure, also known as end-stage renal disease (ESRD), is a fatal condition unless a kidney transplant is available or a patient undergoes dialysis, in which a machine filters toxins and fluids from the blood outside the body. In-center dialysis patients are treated approximately four hours a day, three times a week. There is a tremendous need to bring these types of services into the communities where patients live, and we are thrilled that we were able to deliver this new, state-of-the-
The buyer, a private investor based in Berkeley, Calif., was represented by Rahul Chhajed and Michael Moreno of Matthews Real Estate Investment Services in Costa Mesa, Calif., in the sale. Meridian was self-represented.
Meridian currently owns and manages healthcare properties throughout the western United States and is currently pursuing acquisitions and developments throughout California, the Southwest and the Pacific Northwest. The company recently completed the repositioning and recapitalization of Grunow Memorial Medical Center, a historic 53,000-square-
Founded in 1999, San Ramon, California-based Meridian is a full-service real estate developer and investor specializing in high quality, brand-enhancing developments with distinctive expertise in healthcare real estate. Meridian's services are broad in scope, but meticulous in detail -- from site evaluation and land acquisition to entitlement and planning to construction and management. Meridian is an affiliate of Marcus & Millichap Company and has offices in Phoenix, Dallas, Northern California, Southern California and Seattle. For more information, see www.mpcca.com.