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News Release: Ridgeline Capital Partners Acquires Medical Office Building in Mesquite, TX

FOR IMMEDIATE RELEASE

April 26, 2021

Dallas, Texas – Ridgeline Capital Partners (“Ridgeline”), an owner of healthcare real estate, is pleased to announce that the firm has closed on the purchase of the 65,000 square-foot, three-story Physicians Specialty Center in Mesquite, TX in a joint venture with Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets. The joint venture plans to lease the building to additional medical tenants.

The Physicians Specialty Center was constructed in 2019 on a 5.2-acre site at 3400 Interstate 30 in Mesquite, Texas. The building is 66% leased by medical tenants providing ambulatory surgery, imaging, cardiovascular, and dermatology.

“The building has 22,000 SF of medical space available for lease, including 19,000 SF contiguous. The entire space is in move-in ready condition. New tenants can move in immediately and save money by avoiding today’s skyrocketing buildout construction costs.” said Jeff Axley, Managing Principal, Ridgeline.

“East Dallas is underserved on quality medical space in convenient locations. This a Class A building in a high visibility freeway location that offers tenant building signage, excellent patient accessibility, and physician and patient convenience with an on-site ASC and full-service imaging,” Axley noted.

The seller represented itself in the transaction and the buyer was not represented.

About Ridgeline Capital Partners

Ridgeline Capital Partners is a real estate investment firm focused exclusively on acquiring and operating healthcare real estate assets. Ridgeline has deep expertise and relationships in healthcare and in healthcare real estate to identify investment opportunities. Our disciplined investment process and proactive asset management execution create value for our investors, our tenants, and the communities in which we invest. Ridgeline’s investors include institutional investors, family offices, and accredited investors. For more information, please visit www.ridgelinecp.com.

About Harrison Street

Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in London and Toronto, the firm has more than 190-employees and approximately $33 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street has been awarded Best Places to Work by Pensions & Investments for the last seven consecutive years and was named 2020 Global Alternatives Investor of the Year by PERE. For more information, please visit www.harrisonst.com.

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