June 15, 2022 10:28 ET | Source: Excelsior Capital
KANSAS CITY, Kan., June 15, 2022 (GLOBE NEWSWIRE) — Excelsior Capital, a Nashville-based real estate private equity sponsor, expands their holdings in Kansas City with the $7M purchase of Bethany Medical. This marks their fifth acquisition in the area, expanding their portfolio to over 400,000 square feet of office space in the city.
The firm’s most recent acquisition, Bethany Medical, is a 48,323 square foot medical office portfolio, located on the precipice of Kansas City’s CBD and Wyandotte county submarkets, two of the top performing submarkets for the medical office asset class. The building, located at 21 North 12th St, was originally constructed in 1993 and underwent extensive renovations in 2020.
The transaction was negotiated by Alex Vidal and David Helvey with the Marcus & Millichap National Healthcare Real Estate Team.
“We are thrilled to expand our footprint in the Kansas City market with the Bethany Medical Office building acquisition. We continue to remain bullish on the market as a whole, and are looking forward to partnering with multiple well-known local healthcare tenants that make a positive impact on the local population,” Sam Peacock, VP of Investments & Asset Management at Excelsior Capital.
About Excelsior Capital
Excelsior Capital is a real estate private equity sponsor based in Nashville, TN that specializes in yield generation by primarily focusing on stabilized income and capital preservation. Excelsior’s strategy centers around the belief that real estate assets are undervalued in secondary markets that possess strong underlying economic fundamentals. Within these MSA’s, they target stable assets that are located in healthy submarkets and have a strong history of occupancy. To capitalize on this strategy, we focus on assets in the $8M-$20M range, which are often overlooked by institutional investors.
Press Contact: Sam Peacock
VP of Investments & Asset Management
(210) 289 4155
speacock@excelsiorgp.com
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