Stockdale Opens Fund, Purchases LA Medical Center

Stockdale Capital Partners has launched its SCP Healthcare Real Estate Income Fund to focus on core-plus, healthcare real estate opportunities across the U.S., and has stayed close to home for its initial acquisition. The Los Angeles-based firm has purchased 2100 West 3rd Street, a Medical Center in the Westlake neighborhood of LA. Terms of the deal were not disclosed.

Stockdale is very familiar with the facility, as the company owned it previously before selling it in 2019. Stockdale also completed the current deal on March 31st, just one day before the Measure ULA transfer tax was enacted. 2100 West 3rd is a 147,000-square-foot property that is 99% leased to major tenants, including Children’s Hospital of Los Angeles and AltaMed Health Services Corporation.

“We are excited about the launch of our new open-ended fund effort and believe now is an excellent time in the market to acquire best-in-class medical office assets,” said Daniel Michaels, Managing Partner of Stockdale.