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Stockdale Acquires Fully Leased Novato MOB
CBRE facilitated the sale of Rowland Medical Plaza, an 81,410-square-foot medical outpatient building (MOB) located in Novato, and secured financing for the buyer, Los Angeles-based Stockdale Capital Partners. The buyer reported an acquisition price of $32.8 million.
Chris Bodnar, Brannan Knott, Cole Reethof and Trent Jemmett of CBRE U.S. Healthcare Capital Markets partnered with Kyle Kovac and Mike Taquino of CBRE’s Bay Area Capital Markets and Trask Leonard of Bayside Realty Partners to advise the seller. Zack Holderman and Jesse Greshin of CBRE’s Healthcare Debt and Structured Finance team secured the financing for the purchaser.
Located at 75 Rowland Way, Rowland Medical Plaza is a fully leased, Class A MOB adjacent to Sutter Health’s 47-bed Novato Community Hospital. “This is a highly strategic outpatient facility for the anchor tenant, MarinHealth, who has made significant investments and a long-term commitment to this location,” said Bodnar. “Healthcare investors continue to gravitate toward the resiliency and growth of the healthcare real estate sector as demonstrated by this transaction.”
The deal represented Stockdale’s sixth acquisition of its recently formed, U.S.-focused, open-ended Healthcare Real Estate Investment Fund.
- ◦Sale/Acquisition
