High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Seattle & Northwest  + Office  | 

10-Property, Multi-State Providence St. Joseph Health Portfolio Trades Hands

The first phase of a more than 344,000-square-foot, 10-property portfolio for Providence St. Joseph Health (PSJH) has sold for roughly $59 million. The properties are located in California, Washington, Oregon and Montana, and range in asset type from medical to office and flex industrial.

NKF’s Garth Hogan, Sean Fulp and Mark Schuessler handled the disposition on behalf of PSJH.

Hogan says, “The buyers were a diverse group of investors, ranging from private equity funds to physicians and multifamily developers. Proceeds from the first round of sales have already been earmarked for strategic acquisitions throughout the PSJH service areas.”

For Renton, WA-based PSJH, the objective of the portfolio sale is to optimize operational efficiency and unlock capital. The second phase of assets to be sold will be released to the market early this year, and will be comprised of medical, office and land assets in Alaska, Washington, Oregon, Montana and California.

*Pictured Providence St. Joseph Health phase two property in Alaska

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Providence St. Joseph HealthConnect With NKF’s Hogan

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action