Los Angeles-based Stockdale Capital Partners, a real estate investment firm, has acquired properties housing Banner Health outpatient clinics in the Phoenix area.
The Banner Health clinics include a 20,400-square-foot clinic in Mesa, Ariz., a 39,500-square-foot clinic in Queen Creek, Ariz., and a 20,400-square-foot clinic in Gilbert,Ariz., according to a Feb. 7 Stockdale news release.
Stockdale will lease back the properties to Banner Health, which will continue providing medical services at the sites.
"As a nonprofit health system, monetizing real estate is an important financial strategy to free up capital that can be redirected to other projects," a spokesperson for Banner Health said in a statement shared with Becker's.
Since its inception, Stockdale has now acquired four medical office buildings, with an active property pipeline across the U.S., according to the release.
"Our dedicated Healthcare Fund will continue to look for attractive real estate investment opportunities across the country as demand for outpatient healthcare increases," Andrew Saba, managing director of healthcare at Stockdale, said in the release.
A nonprofit health system, Phoenix-based Banner Health comprises 30 hospitals across six states. It has more than 50,000 employees.