Ridgeline Capital Partners Acquires $23M Portfolio of Dialysis-Provider Leased MOBs across Georgia

Ridgeline Capital Partners, LLC, has completed its $22.5-million acquisition of a 72,158-square-foot, fully leased medical office building portfolio that includes three properties in GA along with one each in WA and ID.

Brannan Knott, Alex Sharrin, Alex Geanakos, Jeffrey Cicurel and Will Bowater of JLL represented the seller, an entity managed by Platform Ventures. The properties include:

• 3620 Martin Luther King Jr. Dr. SW, Atlanta, GA
• 2669 Church St., East Point, GA
• 2494 Second St., Macon, GA
• 6825 Burden Blvd., Pasco, WA
• 582 N. Pole Line Road, Twin Falls, ID

The portfolio is 82% occupied by DaVita Dialysis, one of the largest providers of kidney dialysis services in the US with a market share of 37%. The remaining square footage is leased by Southwest Atlanta Nephrology.

“Dialysis is viewed very favorably by healthcare investors as a non-cyclical and non-discretionary, life-sustaining treatment and the only healthcare treatment backed by the US government through Medicare entitlement regardless of age or income,” said Knott. “Dialysis is a segment that benefits from aging demographic trends and increasing incidence of end-stage renal disease in the United States further driving patient demand. This transaction exemplified these characteristics and presented a great opportunity to invest in the segment with scale.”