SEATTLE and NEW YORK, January 26, 2022 — A partnership of Seattle-based Elliott Bay Capital Trust (“Elliott Bay”) and New York-based Prospect Ridge has announced the acquisition of four medical properties in three separate transactions and leased to leading healthcare providers across three states.
The four newly developed and 100% occupied properties located in Chubbuck, ID; Logan, UT; Pittsfield and Mt. Sterling, IL total approximately 53,000 square feet of space and are long-term leased to Fresenius Medical Care, US Renal Care and Duly Health and Care, respectively.
Elliott Bay is a real estate investment firm that invests in mission-critical net leased healthcare properties and Prospect Ridge is a leading investment manager specializing in private equity real estate investing in the U.S. In 2021, the partnership closed on 18 property transactions of net leased medical office and dialysis properties.
“These properties are all great additions to our growing and diversified portfolio as we continue to acquire superior quality buildings, delivering critical healthcare services by leading providers in high demand markets” said Christian Whipple, CEO of Elliott Bay. He added, “these transactions were the culmination of a successful year for our company and we are excited to execute on a strong pipeline of new opportunities in 2022.”
Fresenius Medical Care and US Renal Care are leading national providers of kidney care and dialysis services for patients with End Stage Renal Disease operating in partnerships with leading local nephrologists. Duly Health and Care (f/k/a DuPage Medical Group) is the largest multi-specialty group in the Midwest with more than 900 physicians and more than 6,000 employees in over 150 locations.
About Elliott Bay Capital Trust
Elliott Bay Capital Trust (www.elliottbaycap.com) is a real estate investment company based in Seattle, WA that acquires and manages healthcare real estate across the U.S. Elliott Bay manages a diversified portfolio of mission-critical outpatient properties leased to leading health systems, national sector-leading companies, and regional care providers. Elliott Bay invests in properties that are mission-critical to healthcare providers’ operations, provide superior services to patients and are integral for the future of healthcare delivery. About Prospect Ridge Prospect Ridge (www.prospectridge.com) is a leading investment manager specializing in private equity real estate investing in the U.S, and is the successor entity to a real estate investments business established in 2009 in partnership with AllianceBernstein. Through Prospect Ridge and its predecessor entities, the team has raised over $4.2 billion in capital across three commingled equity funds, a commercial real estate debt business, multiple opportunity zone vehicles, co-investments, and other businesses. The team has invested in approximately 250 assets totaling over $9.1 billion of gross cost since inception.
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