Stockdale Capital Partners announces the launch of its open-ended healthcare fund and its initial acquisition, 2100 West 3rd Street Medical Center in Los Angeles, CA

SCP Healthcare Real Estate Income Fund to focus on core-plus, healthcare real estate opportunities across the U.S.

LOS ANGELES – April 04, 2023 – Stockdale Capital Partners (“Stockdale”), a Los
Angeles-based, vertically-integrated real estate investment firm, announced that it
completed its acquisition of 2100 West 3rd Street Medical Center in Los Angeles on March
31st, 2023.
The medical office building is 147,078 square feet, and is 99% leased to major tenants
including Children’s Hospital of Los Angeles, Providence Health & Services, and AltaMed
Health Services Corporation.
The acquisition was completed as the seed investment in the firm’s new open-ended, coreplus
healthcare fund which will be actively pursuing medical office acquisitions.
“Stockdale’s dedicated healthcare fund will continue our track record of delivering attractive
returns for our investors and excellent medical office experiences for our clients and their
guests,” said Andrew Saba, Managing Director of Stockdale. “We remain committed to
deepening our existing partnerships and establishing new relationships across the
healthcare delivery spectrum with providers nationwide.”
“We are excited about the launch of our new open-ended fund effort and believe now is an
excellent time to be in the market to acquire best-in-class medical office assets,” said Daniel
Michaels, Managing Partner of Stockdale. “We look forward to growing this vehicle
successfully across the U.S., starting in Los Angeles with 2100 West 3rd St Medical Center.”
Stockdale has deep knowledge of the asset and market, having sold the property previously
to HTA in 2019, which was later acquired by Healthcare Realty, the current seller. The
transaction was completed in advance of Los Angeles’ ULA transfer tax, which imposes a
5.5% tax on transactions greater than $10 million effective April 1, 2023, providing a unique
opportunity to acquire a stabilized medical office asset with excellent tenancy.