Dallas, Texas – Ridgeline Capital Partners (“Ridgeline”), a privately-held commercial real estate investment company, recently completed the acquisition of the three-building, 41,763 square foot Pearland Central Medical Plaza in Pearland, TX.
The “Class A” property is 83% occupied by 11 medical tenants on triple-net leases. The tenants offer a wide range of clinical specialties at the property, including imaging, orthopedics, physical therapy, vascular/IV radiology, endocrinology, lab services, primary care, podiatry, psychiatry, and dental services. According to Ridgeline, “the plan is to lease the remaining available space to additional medical tenants seeking a presence in the area.”
Located approximately 16 miles south of downtown Houston. Pearland was recently named 2018’s 3rd fastest growing city in the U.S. Built in 2003, the Property is located on the western side of Pearland, where much of the town’s recent rapid growth has occurred. This growth is attributed to the area’s close proximity to both downtown Houston (16 miles) and Houston’s Hobby Airport (7 miles), the 34th busiest airport in the nation. Additionally, the South Freeway and Sam Houston Tollway (“The Loop”) are very close to Pearland, linking southern and western suburbs and downtown Houston to Pearland, which also benefits the patient bases of tenants.
Pearland Central Medical Plaza is located on a heavily trafficked and highly visible location on Broadway Street, a major thoroughfare in Pearland. The strategic location and visibility provide patients with critical access to medical services, while in a more tradition retail setting, providing easy access to/from appointments and a better patient experience overall.
Ridgeline says its mission is to acquire healthcare facilities in Texas and across the “sun belt” with more than 40,000 square feet of space and occupancies ranging from 50 percent to 100 percent.
The company has made ten acquisitions since early 2014.
About Ridgeline Capital Partners
Ridgeline is a private real estate investment firm specialized in acquiring and operating healthcare real estate assets. The firm utilizes its experience in acquisitions, management, development and capital markets to invest capital entrusted to Ridgeline. Ridgeline’s investment philosophy is based on an understanding of asset values and capital markets and the inherent inefficiencies in the real estate industry. Ridgeline’s investment strategies are primarily focused on value-add investments and in providing joint venture equity for new development. For more information, please visit: www.ridgelinecp.com.
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