Banner Health, a nonprofit health system based in Phoenix, has recently leased out three medical clinics to Stockdale Capital Partners, a real estate investment firm based in Los Angeles. 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 continue leasing these properties back to Banner Health, ensuring that the health system can continue to provide medical services at each of these sites. A spokesperson for Banner Health stated that 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 revealed plans for a pipeline of additional properties across the U.S., with their dedicated Healthcare Fund continuing 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 Capital Partners stated “We are excited about this new opportunity and look forward to working with Banner Health on this project.”