FOR IMMEDIATE RELEASE
June 18, 2019
Dallas, Texas – Ridgeline Capital Partners (“Ridgeline”), a private real estate investment firm, has sold Magnolia Medical Tower, an 89,990 square foot medical office building located in the Fort
Worth Medical District. HR Acquisition of San Antonio, Ltd. purchased the property for an undisclosed price.
Ridgeline purchased the property in 2016 and renovated the lobby and common areas in 2017, helping increase occupancy and rental rates at the property. The six story building was built in 1985 and is located adjacent to the Baylor All Saints Medical Center, with easy access to Cook Children’s Medical Center, Texas Health Harris Methodist Hospital Fort Worth and Plaza Medical Center of Fort Worth. The building has a well-rounded tenant mix including primary care, oncology, orthopedics, cardiology, urology, OB/GYN, neurology, and pain management. Jeff Axley, Ridgeline’s Managing Principal said, “This property is very well-situated in the Fort Worth Medical District, and we hope the new owners continue to enjoy the success we have experienced.”
JLL’s Healthcare Capital Markets Group brokered the sale on behalf of Ridgeline.
About Ridgeline Capital Partners
Ridgeline is a Dallas-based private real estate investment firm focused on healthcare real estate, including multitenant medical office buildings and single-tenant specialty facilities. Founded in
2013, the firm utilizes its experience in acquisitions, management, development and capital markets to invest its own and investors capital. Ridgeline’s investors include institutional funds,
family offices, and accredited investors. For information about Ridgeline, please visit www.ridgelinecp.com.
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