A real estate investment firm, Stockdale Capital Partners based in Los Angeles, has recently purchased outpatient clinics operated by Banner Health in the Phoenix area. These properties include a 20,400-square-foot clinic in Mesa, Ariz., a 39,500-square-foot clinic in Queen Creek, Ariz., and a 20,400-square-foot clinic in Gilbert, Ariz.
Stockdale plans to lease back these properties to Banner Health, ensuring that the health system can continue to provide medical services at each of these sites. According to a spokesperson for Banner Health, monetizing real estate is an important financial strategy for the nonprofit health system as it allows them to free up capital for other important projects.
This acquisition brings the total number of medical office buildings acquired by Stockdale to four since its inception. The firm’s dedicated Healthcare Fund will continue to pursue opportunities for attractive real estate investments as the demand for outpatient healthcare continues to rise. Andrew Saba, managing director of healthcare at Stockdale stated that they are looking forward to contributing to the growth and development of Banner Health’s vital healthcare services.
Banner Health is a nonprofit health system headquartered in Phoenix that operates 30 hospitals across six states and employs more than 50,000 people. This recent acquisition will help them continue providing quality medical care and expand their reach into new communities.