N E W S R E L E A S E
Stage Equity Partners Acquires 37,000 sf Class A Medical Office Building in Dallas, Tex.
DALLAS (September 29, 2015) – Chicago-based healthcare real estate investment company Stage Equity Partners LLC (“Stage”) announced the recent acquisition of a 37,000 square foot Class A multi-tenant medical office building in Carrollton, Texas, a northern suburb of Dallas. Stage PrincipalsBrian Howard and Russell Brenner announced that the acquisition of the Carrollton building continues Stage’s expansion in Texas, as its 4th medical office acquisition in Dallas and its 5th overall in Texas.
According to Stage Principal Brian Howard, the single-story, Class A building was acquired in an off-market transaction from the physician owners ofOrthoTexas, one of the leading orthopedic practices in Dallas. As part of the transaction, OrthoTexas leased back the majority of the building under a long-term lease. MetroCrest Surgery Center (a joint venture between USPI, Baylor Scott & White Health and Tenet Health), leases the remainder of the building for the operation of an ambulatory surgery center. American Momentum Bankprovided financing for the project.
The property, located at 4780 North Josey Lane, Carrollton, Texas, is 100% leased to established medical practices that are complementary and synergistic to each other. OrthoTexas has 27 physicians and over 250 employees, and Metrocrest is one of the leading and top-performing surgery centers in the region. The property is within 10 minutes of Baylor Carrollton Hospital and Texas Health Resources Presbyterian Plano Hospital, for those patients requiring acute procedures and overnight stays.
“This is a terrific addition to the Stage portfolio,” notes Stage Principal Brian Howard. “The building is situated in a densely populated, well-insured area just north of Dallas and serving such communities such as Carrollton, Frisco and Plano. The building serves as OrthoTexas’ primary location and corporate headquarters as well as the primary orthopedic office and surgery center for the community. We are very excited to continue Stage’s growth into the strong Dallas medical marketplace.”
According to Mr. Brenner, “Stage is extremely proud to partner again with OrthoTexas on a terrific building. We are excited about the long term growth prospects for both the practice and the location, and believe Stage’s hands-on property management will continue to help benefit each tenant’s patients, physicians and staff.” He further added that each tenant has direct access to patient pre-operatory and post-operatory rooms, covered staff parking and distinct monument signage.
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 $115 million. Stage targets acquisitions in $5 million to $25 million range, with locations in strong, established demographic areas in close proximity to dominant hospital systems or other significant demand drivers.
LINKS:
Website: Stage Equity Partners, LLC: www.stageequity.com
Caption info for property image: Stage Equity Partners Continues Push into Dallas with Acquisition of 37,000 square foot Medical Office Building
PRESS CONTACT representing Stage Equity Partners LLC:
Brian L. Howard
President
Stage Equity Partners, LLC
Office: (847) 410-1076
www.stageequity.com
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