Bain Capital Real Estate, the real estate investing business of Bain Capital, and Evergreen Medical Properties, a company that invests in, leases and manages healthcare facilities, today announced the acquisition of two properties in suburban St. Louis, Missouri and in Providence, Rhode Island with a combined total of over 72,000 square feet. Financial terms of the private purchases were not disclosed.
“With the continued shift in healthcare delivery to outpatient settings for better outcomes and lower cost, we believe these high-quality properties represent a compelling opportunity to execute on our thematic and customer-focused investment strategy,” said Elizabeth Carrillo Thomas, a managing director at Bain Capital Real Estate. “We look forward to a lasting partnership with Evergreen Medical Properties in which we will continue to leverage our
combined healthcare expertise to drive significant value creation through strategic capital, operational improvements and a partnership approach with healthcare providers.”
“We are excited to build upon our partnership with the Bain Capital Real Estate team and grow our platform with these best-in-class medical office buildings,” said Josh Richmond, president of Evergreen Medical Properties. “As a long-term real estate investor focused exclusively on the healthcare industry, we emphasize lasting relationships with our health system and physician group partners and seek to be a true value-add and solutions oriented resource.”