SAN ANTONIO—The three-story 42,000-square-foot Connally Oaks Medical Center, which was built in 2008, is located at 2130 NE Loop 410, directly south of the 371-bed Northeast Baptist Hospital. The building is a class-A asset and 95% occupied by eight medical practices on triple-net leases, anchored by a national oncology group. Other tenants in the building include primary care, physical therapy, neurology, podiatry, dentistry and pain management specialists.

Ridgeline Capital Partners recently completed the acquisition of the building. Ridgeline says its mission is to acquire healthcare facilities in Texas and across the Sun Belt with more than 40,000 square feet of space and occupancies ranging from 50% to 100%. The company has now made seven acquisitions since its launch in early 2014.

“The highly specialized uses make this a compelling asset for us,” Hunter Cain, senior vice president of Ridgeline Capital Partners, tells GlobeSt.com. “The purpose-built cancer center, which includes a linear accelerator vault, offers leading-edge treatments in medical/radiation oncology and chemotherapy. The oncology group's proven long-term commitment, combined with other best-in-class providers on the second and third floors, make this a very attractive asset.”

Ridgeline is a private real estate investment firm specializing in acquiring and operating healthcare real estate assets. The firm has experience in acquisitions of value-add investments, management, development and capital markets. Ridgeline's investment philosophy is based on an understanding of asset values and capital, and the inherent inefficiencies in the real estate industry. In addition to value-add investments, Ridgeline's investment strategies are primarily focused on providing joint venture equity for new development.

“This acquisition was attractive for us due to the property's strategic location, high visibility, strong tenants and institutional-quality construction,” said Jeff Axley, Ridgeline's founder and managing principal.

Instant Insights /

Ridgeline's Mission is to Acquire TX Healthcare Facilities

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