Lillibridge closes on $31 million portfolio

COMPANY ACQUIRES 13 MEDICAL OFFICES FROM DECATUR MEMORIAL

CHICAGO and DECATUR IL, Mar-4, 2009 – Despite extremely tight financial market conditions, Chicago-based Lillibridge, one of the nation's largest private healthcare real estate firms, recently completed the purchase of a 13-building, 255,000 square foot portfolio from Decatur Memorial Hospital.

Ten of the medical office buildings (MOBs) are on the Decatur Memorial Hospital campus. Three properties are off-campus, but all are located in the city of Decatur, Ill. Five of the MOBs are fully occupied by the hospital and one is leased to the Southern Illinois Family Practice residency program; overall the facilities are 95 percent occupied.

"Lillibridge has an outstanding reputation for providing high levels of service to their physician tenants." says Tim Stone, Chief Operating Officer, Decatur Memorial Hospital. "The on-going management was an important consideration in selecting the purchaser of our properties."

Lillibridge will own and manage the 13 buildings, and the company will offer ownership options to physician-tenants. A remodeling program will be implemented for certain properties over the next twelve months.

"When Decatur Memorial Hospital wanted to free up some capital to invest in their core healthcare business we were glad for the opportunity to acquire this portfolio," says Lillibridge Chairman and Chief Executive Officer, Todd W. Lillibridge. "Despite the particularly difficult capital market, we were able to close on this portfolio."