SEATTLE — Elliott Bay Capital Trust (“Elliott Bay”), a real estate investment company focused on essential healthcare properties, in partnership with Pantheon, a leading global private markets investor, has announced the acquisition of a 13,602-square-foot ambulatory surgery center in Athens, Ohio. The facility is 100% net leased to Marietta Memorial Hospital, a wholly owned subsidiary of Memorial Health System, a leading not-for-profit integrated health system serving the Mid-Ohio Valley.
The property, originally constructed in 2015 as a build-to-suit surgery center, features two operating rooms, exam rooms, a physical therapy suite, and imaging capabilities. Memorial Health System recently acquired the practice and executed a new long-term lease, expanding surgical offerings. The facility sits adjacent to OhioHealth O’Bleness Hospital and proximate to Memorial’s new Athens Medical Campus and emergency department opened in 2025.
“This acquisition represents a strong addition to our portfolio of mission-critical healthcare assets,” said Christian Whipple, CEO of Elliott Bay. “Memorial’s long-term commitment to the Athens market and continued investment in regional infrastructure further reinforce the strategic value of this facility as a key surgical access point for the surrounding community.” Athens, home to Ohio University and the seat of Athens County, anchors a growing healthcare corridor in Appalachian Ohio. The city benefits from a stable economic base driven by education, healthcare, and government services, with regional demand for outpatient services further supported by Memorial Health System’s expansion.
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 lifecycleof 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 $70.8bn in discretionary assets under management (as of September 30, 2024).
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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