HOAG ORTHOPEDIC INSTITUTE OPENS NEW ORANGE COUNTY SURGERY CENTER IN IRA CAPITALS BUILDING

HOAG ORTHOPEDIC INSTITUTE OPENS NEW ORANGE COUNTY SURGERY CENTER IN IRA CAPITALS BUILDING

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Hoag Orthopedic Institute
Hoag Orthopedic Institute

Irvine, California, October 13, 2023 (500NewsWire) — IRA Capital ("IRA") is pleased to announce the recent completion of a newly constructed 12,000 square foot surgery center leased to Hoag Orthopedic Institute ("HOI") in Aliso Viejo (Orange County), California. The surgical facility is located at 15 Mareblu, a prominent three-story medical building complex which IRA acquired in December 2021. HOIs new facility occupies the entire ground floor of the building and consists of four state-of-the-art operating rooms, eleven pre-op and post-op beds, and two extended stay units.

IRA acquired the 34,000 square foot project and has been enhancing it to be consistent with its ownership standards and that of an institutional quality asset. As a part of the reposition, IRA successfully executed a long-term lease to Hoag Orthopedic Institute, who in turn built out the state-of-the-art surgery center in the entirety of the ground floor. In addition to HOIs surgery center build-out, IRA c completed a comprehensive building exterior renovation, new landscape, contemporary building and monument signage, redesigned interior common areas and restrooms, and a comprehensive elevator modernization project.

"We are delighted to be aligned with Hoag Orthopedic Institute as our anchor tenant at 15 Mareblu" expressed Daniel Sitz, Managing Director at IRA Capital. "The collaboration with their team has been exceptional, and we look forward to growing our partnership with them."

Hoag Orthopedic Institute continues to be recognized as one of the leading orthopedic institutes in the country, having recently been ranked #18 nationally by U.S. News & World Report for orthopedic care. As a specialty organization with hospitals and ambulatory surgery centers that focus solely on orthopedic and spine care, HOI consistently performs the highest volume of joint replacement procedures in California, and the 4th highest in the nation.

IRA Capital continues to reinforce its commitment to the healthcare real estate sector. Despite the backdrop of the challenging capital markets environment, we continue to invest in high quality healthcare assets throughout the country, said Jay Gangwal co-founder and Managing Partner at IRA Capital. Aliso Viejo Medical Plaza is a great representation of IRA Capital's investment criteria and marks another important step towards expanding our medical property portfolio in Southern California. Gangwal expressed enthusiasm for prospects, further noting, "We are looking to continue growing our portfolio with similar assets." IRAs forward-looking outlook accentuates the firms proactive commitment to navigating challenges while seeking out opportunities for growth and innovation within the healthcare real estate sector.

About IRA Capital

IRA Capital is a Southern-California based private equity firm founded in 2010 by partners Amer Kasm, Samir Patel, Jay Gangwal, Amer Malas, and Mohannad Malas. IRA invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, and family offices. Headquartered in Irvine California, IRA has acquired over seven million square feet of property in 30 states, with a total capitalization greater than $3 Billion.

For more information, please visit www.iracapital.com

For more information, please contact:

Danielle Ball, IRA Capital Corporate Communications

dball@iracapital.com / 949.258.7411

Contact Details

IRA Capital

Danielle Ball, IRA Capital Corporate Communications

+1 949-258-7411

dball@iracapital.com

Company Website

https://www.iracapital.com/

View source version on newsdirect.com: https://newsdirect.com/news/hoag-orthopedic-institute-opens-new-orange-county-surgery-center-in-ira-capitals-building-635918475

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