DALLAS–Ridgeline Capital Partners has acquired two medical office buildings in Texas in two separate transactions, marking the Dallas-based company’s fourth acquisition in the past ten months.
The properties include the Rosedale Medical Plaza, a 26,000-square-foot class A medical office building located at 1106 Alston Ave. in the Fort Worth Medical District, and Bellaire Medical Plaza, a 60,000-square-foot class B medical office building located at 5420 Dashwood Drive in Houston. The seller for the Fort Worth property was Alston Capital LLC; the Bellaire seller was BS Dashwood LLC.
“Ridgeline was attracted to the infill locations where there’s significant demand for medical space, coupled with the in-place below market rents and excess land to add additional space,” Jeff Axley with Ridgeline, told GlobeSt.com.
The multi-tenant properties are 98 percent leased. According to Axley, the Houston property includes extra land for a 10,000-square-foot BTS.
Ridgeline typically acquires medical office and office properties between $5 to $30 million.
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