Banner Health, a nonprofit health system headquartered in Phoenix, has recently sold properties that house outpatient clinics to Stockdale Capital Partners, a real estate investment firm based in Los Angeles. The 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 Capital Partners 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. Andrew Saba, managing director of healthcare at Stockdale Capital Partners stated that the acquisition brings the total number of medical office buildings acquired by Stockdale since its inception to four. He also revealed that 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.
Banner Health operates 30 hospitals across six states and employs more than 50,000 people. With this recent acquisition, Stockdale looks forward to contributing to the growth and development of Banner Health’s vital healthcare services. 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.