Stockdale buys third L.A. medical building for $50.3M

Los Angeles /
Feb.February 10, 2016 04:44 PM

Stockdale Capital Partners now owns three medical buildings in Los Angeles County, The Real Deal has learned.

It bought 9090 Wilshire Boulevard,  a 51,570-square-foot Class A medical office building in Beverly Hills for $50.3 million from LNR Partners, according to CoStar Group, in an effort to continue to expand its medical portfolio in L.A..

The Real Deal reported that, just last week, Stockdale bought a 140,000-square-foot Downtown medical office building at 2100 West Third Street for more than $50 million. That purchase followed its acquisition late last year of a 54,930-square-foot medical office building anchored by UCLA Health at 2825 Santa Monica Boulevard in Santa Monica for $38.5 million.

Both Westside acquisitions were made as part of a $100 million joint venture partnership with asset manager Carlyle Group to acquire medical office buildings in the Los Angeles market.

“We are witnessing very strong demand for high quality medical office buildings in a supply-constrained market in Southern California,” said Steven Yari, managing principal of Stockdale.

The firm is actively looking to acquire other medical office assets in Southern California, according to a company statement. Sources said it already has a couple more irons in the fire.

Eastdil Secured represented LNR Partners in the sale of 9090 Wilshire. Acquisition financing was arranged by Nicholas Nouvel and Craig Dowd of Union Bank.


Related Articles

arrow_forward_ios
Rendering of the project (NMDA for CIM Group)
CIM drops residential units at proposed West Hollywood hotel
CIM drops residential units at proposed West Hollywood hotel
Renderings of One Beverly Hills and Beny Alagem. (One Beverly Hills, Getty)
Beny Alagem’s $2B Beverly Hills project gets go-ahead
Beny Alagem’s $2B Beverly Hills project gets go-ahead
Sumner Redstone (Getty) with 31 Beverly Park Terrace (Redfin)
Sumner Redstone’s Beverly Park estate flies off market for $27M
Sumner Redstone’s Beverly Park estate flies off market for $27M
The San Pedro Fish Market is one of the top-grossing restaurants in the U.S. (Getty, Facebook via San Pedro Fish Market and Restaurant / Photo Illustration by Alison Bushor for The Real Deal)
San Pedro Fish Market plans new “supersize” restaurant
San Pedro Fish Market plans new “supersize” restaurant
The Chateau Marmont (Getty) and protest signs (Unite Here Local 11)
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
Michael Nourmand (Facebook via Nourmand & Associates)
Compass tries to recruit brokerage owner Michael Nourmand
Compass tries to recruit brokerage owner Michael Nourmand
Braemar Hotels & Resorts Chairman Monty Bennett with Mr. C Beverly Hills. (Ashford, Mr. C)
Mr. C Beverly Hills sells to Monty Bennett’s Braemar Hotels
Mr. C Beverly Hills sells to Monty Bennett’s Braemar Hotels
Tony Gonzalez and 807 Cinthia Street (Getty, Redfin)
NFL great Tony Gonzalez scores $21M mansion sale
NFL great Tony Gonzalez scores $21M mansion sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...