Greene Park Capital Invests $602M in Health Care Real Estate
This “significant milestone event” marks a Canadian REIT’s entry into the US.
Greene Park Capital continues to show a robust pipeline of health care real estate investment, announcing this week that it had closed a $602 million transaction in collaboration with its capital partner, NorthWest Healthcare Properties REIT.
This “significant milestone event,” as Greene Park Capital called it, marks the REIT’s entry into the US.
The portfolio includes 27 specialized healthcare real estate assets across five asset classes located in 10 states.
Jeffrey A. Piehl, MAI, Partner and Real Estate Lead at HealthCare Appraisers, tells GlobeSt that REITs “are stepping back into the game.”
As detailed in Health Care Appraisers’ 2022 Medical Office Fundamentals Outlook, “new institutional investors and capital are actively pursuing US-based healthcare real estate, and medical office properties, in particular.
“The MOB asset class and its recession-resilient fundamentals has attracted capital worldwide as recently witnessed by the large-scale transaction by the Canadian REIT, a portfolio that included properties across the spectrum of healthcare real estate, illustrating the depth of demand across healthcare real estate facilities.”
Acquired Portfolio Diverse
Included in the diverse portfolio of assets as part of the initial transaction are medical office buildings, acute care hospitals, inpatient rehabilitation facilities, ambulatory surgical centers, micro hospitals and behavioral health facilities.
Greene Park Co-Founder and Managing Partner Jason Simmers said in prepared remarks, “Our strategy is to focus on customer-centric healthcare providers that can adapt to new technologies, new delivery models, and evolving regulations.”