SEATTLE — A partnership between Elliott Bay Capital Trust (“Elliott Bay”), a real estate investment company specializing in essential healthcare properties, and its partner Pantheon, a leading global private markets investor, today announced the acquisition of Hawthorn Commons, a 48,942 square-foot Medtail property located in Vernon Hills, IL. The multi-tenant building is anchored by Northwestern Medicine where it provides high demand urgent, primary and specialty care services to the community.
The building is strategically positioned in the Vernon Hills retail corridor, adjacent to the transformative Hawthorn Mall mixed-use redevelopment project, placing it in a rapidly growing and highly accessible location. The property offers a diverse range of healthcare services provided by various healthcare tenants, meeting the needs of the expanding patient base in the
Chicago metropolitan area.
“This property’s prime location in the Vernon Hills retail corridor and its best-in-class anchor tenant, Northwestern Medicine, presents a compelling investment opportunity,” said Christian Whipple, CEO of Elliott Bay. “We are excited to be part of a market that is experiencing dynamic growth and redevelopment. This acquisition reflects our strategic approach to identifying high-value assets with growth potential.”
The acquisition of Hawthorn Commons aligns with Elliott Bay’s ongoing strategy of investing in essential healthcare properties located in high-demand, patient-centric environments, further strengthening their expanding portfolio nationwide.
About Elliott Bay Capital Trust
Elliott Bay Capital Trust (www.elliottbaycap.com) is an integrated real estate investment platform based in Seattle, WA that acquires and manages healthcare properties across the U.S. Founded in 2013, Elliott Bay manages a diversified portfolio of outpatient medical properties nationwide leased to leading health systems, national sector-leading companies, and regional care providers. Elliott Bay aligns with its healthcare provider partners to help unlock economic value and enhance operating flexibility while creating long-term value in each of its real estate investments.
About Pantheon
Pantheon (www.pantheon.com) has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments. Pantheon has partnered with more than 650 clients, including institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately $65bn in discretionary assets under management (as of December 31, 2023). Pantheon’s dedicated real estate strategy was established in 2021 and focuses on partnering with specialized owner-operators to provide comprehensive capital solutions in needs-based property sectors that benefit from strong secular tailwinds and that offer defensive characteristics across market cycles.
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