Banner Health, a nonprofit health system based in Phoenix, has recently sold outpatient clinics located in Mesa, Queen Creek and Gilbert to Stockdale Capital Partners, a real estate investment firm from 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 will lease back these properties to Banner Health so that the health system can continue to provide medical services at each of these sites. According to Andrew Saba, managing director of healthcare at Stockdale Capital Partners, this acquisition brings the total number of medical office buildings acquired by the company to four since its inception. He stated that the firm has plans for a pipeline of additional properties across the U.S. specifically targeting outpatient healthcare as demand continues to rise.
“This acquisition represents an important financial strategy for Banner Health,” said a spokesperson for the health system. “By monetizing our real estate holdings, we are able to free up capital for other important projects.”
Banner Health operates 30 hospitals across six states and employs more than 50,000 people. With this recent sale, Stockdale Capital Partners looks forward to contributing to the growth and development of Banner Health’s vital healthcare services.