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February 22, 2017

Stockdale Capital Partners Closes Purchase Of Metro-Portland Medical Office Building For New Medical Office Joint Venture

An institutional joint venture led by Los Angeles-based Stockdale Capital Partners has closed on the purchase of Gresham Station Medical Plaza, a 100,419 square foot hospital-anchored medical office complex located at 831 NW Council Drive in the metro-Portland suburb of Gresham.

Built in 2004, Gresham Medical Station is one of the largest independently owned medical office buildings in Portland leased to hospital-anchored tenant Adventist Health, as well as Providence Health and Services and DaVita Healthcare Partners Inc. The building was 90 percent leased at the time of the purchase.

The property is surrounded within a one-mile radius by more than 2,500 residential units, two large retail shopping centers and Gresham City Hall. The medical plaza has surface parking for more than 600 vehicles and is also a two-block walk from the nearest Tri-Met MAX transit station.

Stockdale Capital Partners acquired Gresham Station Medical Plaza on behalf of an institutional partnership formed earlier this month with Quilvest, a leading global independent wealth manager with more than $36 billion in assets under management and a presence in 10 countries. The partnership was formed to acquire existing medical office buildings in West Coast markets with a focus on adding value over time through renovating, re-tenanting or re-positioning.

Stockdale Capital Partners is a vertically integrated real estate investment firm formed by brothers Steven Yari and Shawn Yari to provide niche investment opportunities across multiple asset classes in the West and Southwest to institutional investors. Including this venture, the firm operates four separate programmatic JVs. These include a $100M venture to acquire medical office buildings in Los Angeles and a $75M partnership with private equity fund Siguler Guff for value-add investments as well as a program with the U.K’s Grosvenor Group to acquire and own parking properties.