Banner Health, a nonprofit health system headquartered in Phoenix, has recently leased out three medical office buildings to Stockdale Capital Partners, a real estate investment firm based in Los Angeles. These properties, which 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., will continue to house outpatient clinics operated by Banner Health.
Stockdale Capital Partners acquired these properties with the intention of leasing them back to Banner Health. According to Andrew Saba, managing director of healthcare at Stockdale, this acquisition brings the total number of medical office buildings acquired by the firm to four since its inception. Stockdale’s dedicated Healthcare Fund will continue to pursue opportunities for attractive real estate investments as the demand for outpatient healthcare continues to rise across the U.S.
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 will help Banner Health continue to provide vital medical services at these sites while also generating additional revenue through the lease agreement with Stockdale Capital Partners.