Dealmaker: JLL Capital Markets Closes $32M Sale, $25M Financing of Medical Building Portfolio

(Photo courtesy of JLL Capital Markets)

JLL Capital Markets, Chicago, arranged the $32 million sale and $25 million in financing for an outpatient medical building portfolio totaling 80,315 square feet in Arizona.

The portfolio includes three Banner Health Centers in Phoenix’s high-growth east valley in Mesa, Gilbert and Queen Creek, Ariz.

JLL represented seller Banner Health and procured buyer Stockdale Capital Partners. JLL also represented the buyer and borrower, Stockdale Capital Partners, in obtaining acquisition financing.

Banner Health, one of the largest nonprofit health systems in the country, occupies the portfolio. The properties were constructed in 2013 and 2014 to meet the high growth in demand for healthcare services in the east valley of Phoenix.

The JLL Medical Properties Group Investment Advisory Sales team was led by Senior Managing Director Mindy Berman, Executive Managing Director Pat Williams, Director Matt DiCesare and Associate Liam Sorensen. JLL Medical Properties Group Debt Advisory team was led by Senior Managing Director John Chun, Director Daniel Digerness and Associate Liam Sorensen.

Berman said the properties are located on major thoroughfares in densely populated pockets of Phoenix’s east valley.