News Release: Stage Equity Partners Sells 37,813 sf Clayton Eye Center & Tenet – Anchored Medical Office Building in Atlanta, GA.

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Atlanta (July, 2015) – Chicago-based healthcare real estate investment company Stage Equity Partners LLC (“Stage”) announced the recent sale of a 37,813 square foot multi-tenant medical office building anchored by Clayton Eye Center and Atlanta Medical Center, a subsidiary of Tenet Healthcare in Morrow (Atlanta), GA. According to Stage Principals Russell Brenner and Brian Howard, the two-story building was sold in an off-market transaction for $7,500,000 to a NY-based private healthcare REIT.

The property, located at 1000 Corporate Center Drive in Morrow, GA is 100% leased by established medical practices and serves as Clayton Eye Center’s headquarters, primary office and surgery center, as well as Atlanta Medical Center’s family practice and residency training facility.

The sale comes upon the completion of Stage’s planned exterior and interior renovations. “Our original business plan contemplated a 3-5 year hold,” notes Stage Principal Russell Brenner, “but after extending leases and re-positioning the building, we recognized an earlier opportunity to maximize value for our investors.”

According to Stage Principal Brian Howard, “institutional buyers of healthcare properties are competing at record levels for high quality, cash-flowing assets like Morrow.” Howard adds that Stage’s buyer closed swiftly and acquired a “solid asset with busy, long-term medical tenants.”

Stage Equity Partners LLC (www.stageequity.com) is a privately held, healthcare real estate investment company headquartered in Chicago (Skokie, Ill). Stage acquires, develops and manages medical office buildings, both on its own and for its investor partners, in top markets around the U.S. Its current portfolio contains assets in six states with an aggregate value of over $125 million. Stage targets acquisitions in $5 million to $25 million range, in strong, established demographic areas in close proximity to dominant hospital systems or other significant demand drivers.

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