Transactions Follow Expansion of Relationship with Capital One Healthcare Financing
MINNEAPOLIS (December 17, 2025) — Davis, a national healthcare real estate firm specializing in development, property management, brokerage, investment, and consulting services, has acquired two Minneapolis-area outpatient medical properties totaling $21.85 Million and approximately 64,500 square feet for its Davis Medical Investment Fund (DMI Fund).
The acquisitions follow the recently announced refinancing of 19 properties totaling $171 Million with Capital One Healthcare Finance. Leveraging its new $250 Million line of credit, Davis continues to expand the DMI Fund’s investment portfolio, beyond its current property count totaling nearly 885,000 square feet across eight states.
“This is an exciting time for Davis, the DMI Fund, and our investors as we pursue and execute current opportunities while building momentum for 2026 and beyond,” said Mark Davis, CEO of Davis. “Our presence and longevity in the market, along with the financial flexibility provided by our Capital One relationship, give us great optimism.”
Plymouth Acquisition
In the larger of the two transactions, Davis acquired 3007 Harbor Lane North, a 30,250-square foot, single-story outpatient medical building in the Plymouth submarket of Minneapolis–St. Paul. The purchase price was $12 Million.
Located near I-494 and Hwy 55, the building complements Davis’s 2024 acquisition of WestHealth. The property was fully renovated and expanded in 2019, adding 15,000 square feet.
At the time of acquisition, the building was 100% leased. Fresenius, a BBB S&P-rated healthcare services provider, anchors the property and occupies roughly one-third of the space, offering nephrology specialty services. Fresenius also renewed its lease earlier this year, improving the building’s overall WALT.
Additional specialties represented in the building include podiatry, OBGYN, and behavioral health services.
Burnsville Acquisition
Davis also acquired the Pondview Medical Building at 501 E Nicollet Blvd in Burnsville. The two-story, 34,224 square footproperty was purchased for $9.85 Million, or approximately $288 per square foot.
Located in the Burnsville submarket of Minneapolis–St. Paul, Pondview is adjacent to the Fairview Ridges Hospital campus, where Davis currently leases and manages two outpatient medical buildings.
At the time of acquisition, the building was 100% leased to four tenants, including anchor tenant Southdale Pediatrics. Additional specialties provided at the building include neurology, imaging, and nephrology. Pondview was developed in 2005 and received significant updates in 2024.
About Davis
Davis, founded in 1986, is a national healthcare real estate firm offering expertise in development, property management, brokerage, investment, and consulting services to health systems, hospitals, medical groups, and other healthcare organizations. The company has developed over 37 Class A medical buildings totaling more than $450 Million in development costs and completed 59 investment transactions totaling more than $759 Million. Davis has negotiated more than 447 healthcare property leases with an aggregate value exceeding $1.1 Billion. The firm currently owns and/or manages 63 Medical Outpatient Buildings (MOBs) in 12 states, including MN, IA, IL, MI, OH, TN, CT, ME, AZ, ND, TX, and LA.
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