Chicago-based Stage Equity Partners (Stage Equity), has acquired Inverness Dental & Medical Plaza located at 202 Inverness Center Drive in Birmingham, AL, from Inverness Dental Associates, LLC. Purchase price was not disclosed.
Said Stage Equity Partner Brian Howard, “We worked directly with the physician and dentist owners to structure a sale-leaseback that best serves the goals of the individual practices while anchoring the building for many years to come.”
The 21,019-square-foot, Class A medical office building sits on 1.46 acres in Birmingham’s Hoover neighborhood. Constructed in 2001, the two-story building has windows overlooking a lake and jogging paths and is 100% leased to its three original tenants.
The building’s location – less than ten miles from the University of Alabama at Birmingham School of Dentistry and less than two miles from Grandview Medical Center – was a significant driver for acquisition.
“This was a unique opportunity to acquire a high-quality medical office building and establish ourselves in a new market,” said Stage Equity Partner Russell Brenner. “This addition fits in nicely with our strategy to significantly grow our portfolio in select U.S. markets like Birmingham this year.”
Brian Higdon with Marcus & Millichap’s Healthcare Real Estate Group represented Stage Equity in the transaction while the seller, Inverness Dental Associates, LLC, was represented by Chetek Group’ Alex Perez and Brett Chetek.
Stage Equity, a leading real estate operator and investment company specializing exclusively on healthcare properties, continues to target select medical acquisitions in well-established demographic areas in close proximity to dominant hospital systems or other significant demand drivers. Recent additions to the portfolio include Children’s Hospital of Wisconsin-anchored buildings in Fox Point and Oak Creek, WI.
About Stage Equity Partners
Founded in 2009, Stage Equity Partners is a private real estate investment firm specializing in healthcare real estate assets throughout the U.S. Based in Chicago, Stage Equity Partners acquires, develops and operates Class A medical facilities whose tenants include S&P AA-rated hospital systems, leading physician groups, and national medical service providers. For more information please visit www.stageequity.com.
Beth Atkinson
BA COMMUNICATIONS LLC
312.508.9044
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