MOHAWK ASSET MANAGEMENT CORP. ANNOUNCES ANOTHER PURCHASE OF A MEDICAL OFFICE BUILDING IN CHICAGO (LISLE), ILLINOIS

TORONTO, Feb. 1, 2022 /CNW/ - Mohawk Asset Management Corp. ("Mohawk"), a Toronto-based alternative asset management firm specializing in healthcare real estate, announced today its purchase of a medical/professional office building in Lisle, Illinois by the previously formed Mohawk Chicago (DuPage County) Opportunity Partners (III) LP.

The 4300 Commerce Court Office Building is a 48,000 square foot, three story office, building in the growing town of Lisle, DuPage County, a western suburb of Chicago. The building's tenancies include engineering, software, aesthetics, and behavioral sciences in a suburban, commuter setting.

The property was financed by an amortizing bank mortgage at 4.1% for a five-year term.

The equity offering was placed by way of a non-brokered selling group including Canaccord Genuity Corp. and Richardson Wealth Limited and direct investment from a private family office in New York City.

This acquisition represents a continuation of Mohawk's cross-border investment platform called 'Mohawk America' which invests in U.S. healthcare real estate with cash flow stability and growth potential, syndicated to Canadian and American investors.

Mohawk Medical Management Corp. will bring its expertise in medical office building management to provide specialized professional management services to tenants and patients at the building.

Mohawk anticipates closing on future opportunities in Illinois and New York in 2022.

SOURCE Mohawk Asset Management Corp.