Dallas-based Caddis Partners LLC has sold two North Texas medical office buildings to an affiliate of American Realty Capital Healthcare Trust—The Texas Medical Clinic at Arlington and Sunnyvale Medical Plaza.
The deal was brokered on behalf of Caddis Partners by Cain Bros., a New York-based investment banking firm.
Caddis developed the Arlington property, a three-story, 66,819-square-foot medical office building, in 2010. It has houses 17 primary care providers and 40 physicians, as well as laboratories, a women’s center, and diagnostic imaging.
Sunnyvale Medical Plaza, a two‐story, 48,910-square-foot building, was developed by Caddis in 2009 on the campus of the Texas Regional Medical Center at Sunnyvale.
Both properties were aggressively leased-up after construction, said Jason Signor, CEO of Caddis Partners, in a statement. And both will continue to be managed by Caddis.
“We know the operations, we know the buildings, we know the market and we know the physicians,” Signor said. The company manages 12 medical properties in North Texas. “It has been a successful platform for us and will continue to be going forward.”
Since its founding, Caddis Partners has developed or acquired about 1 million square feet of medical properties valued at $250 million.
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