• Tue. Mar 5th, 2024

Banner Health Sells Three Phoenix Outpatient Clinics to Stockdale Capital Partners for $62.1 Million

ByEditor

Feb 13, 2024
Stockdale Capital Partners Purchases Three Banner Health Properties in Arizona

Banner Health, a nonprofit health system headquartered in Phoenix, has recently sold three outpatient clinics located in the Phoenix area 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. This acquisition brings the total number of medical office buildings acquired by Stockdale to four since its inception.

According to Andrew Saba, managing director of healthcare at Stockdale Capital Partners, this acquisition is part of the company’s dedicated Healthcare Fund’s strategy to pursue attractive real estate investments as the demand for outpatient healthcare continues to rise. The fund will continue to look for opportunities for profitable investments across the U.S.

Banner Health operates 30 hospitals across six states and employs more than 50,000 people. With this recent sale of outpatient clinics, Banner Health looks forward to using the proceeds from the sale to invest in other important projects and initiatives that will contribute to their mission of providing high-quality healthcare services to their patients.

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