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Broadstone Bags 18-Building Elliott Bay MOB Portfolio

Rochester, NY-based Broadstone Net Lease bought the Elliott Bay National Medical Office Portfolio, an 18-building portfolio of outpatient facilities leased to major health systems and spread across eight states. The seller was Seattle-based Elliott Bay Capital Trust.

The net-lease properties are fully occupied by market-leading and academic health systems with 99% investment grade tenancy. Located across eight states (IL, WA, VA, NY, PA, MI, NC, SC) in desirable major U.S. metropolitan areas, the properties have mission critical healthcare infrastructure including ambulatory surgery, cancer treatment, multi-specialty medical and imaging centers.

JLL’s Mindy Berman, Daniel Turley and Brannan Knott handled the deal on behalf of the seller.

“The Elliott Bay portfolio is that rare type of offering that attracts investors to the healthcare real estate sector: a highly durable, investment-grade income portfolio, tenanted by some of the nation’s leading health systems,” said Knott.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition