MSHP and Sixth Street Launch Medical Office Platform
Newport Beach-based developer Market Street Healthcare Properties (MSHP) and San Francisco-based investment firm Sixth Street have teamed-up to form a new institutional scale platform focused on developing medical facilities across the United States. Sixth Street intends to initially invest up to $300 million, and is expected to support more than $1 billion of healthcare properties over time.
The platform will exclusively pursue healthcare real estate opportunities, including both existing assets and ground-up developments. It will also support the real estate initiatives of medical providers with a focus on tenant-driven structures, including sale-leasebacks and build-to-suits.
“Our new dynamic platform is designed to accommodate unique deal structures with a focus on being nimble and highly creative,” said Neil Davis Wachsberger, partner at MSHP, who along with Charles Smyth and Sheldon Anderson bring more than 85 years of experience to the platform.
Eastdil Secured, LLC served as exclusive financial advisor to MSHP on the formation of the platform.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.