PORTLAND, ORE., (February 22, 2017) – 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. For more information on Stockdale, visit: www.stockdalecapitalpartners.com
About Stockdale Capital Partners
Stockdale Capital Partners is a vertically-integrated real estate investment firm with a 60 year family office heritage focused on owning and operating commercial real estate over multiple asset classes throughout the Southwest. Stockdale’s leadership team has a long history of operational success and the firm’s in-house property management team has the ability to easily execute cutting-edge renovations and/or reposition large properties. Stockdale has offices in Los Angeles, Phoenix-Scottsdale and Houston.
About Quilvest
Held for seven generations by the Bemberg family, Quilvest is an international financial group born from an industrial success at the end of the 19th century. With approximately $36 billion of assets under management, Quilvest is a leading global independent wealth manager and private equity investor dedicated to wealth preservation and generation. Internationally present with 13 offices in 10 countries and a team of nearly 400 professionals, Quilvest is an international group established in all major financial centers. Quilvest’s sophistication, history and stability attest to the consistency and trustworthiness required to manage the wealth of private investors, families and institutions alike.
