NEW YORK--(BUSINESS WIRE)--White Oak Healthcare MOB REIT today announced it has acquired three Class-A medical office buildings in Southern Florida.
The stabilized assets, Estero Medical Center, located in Estero, Florida and Oak Point I & II in Vero Beach, Florida, total 77,363 square feet and are 97.3% leased to a diverse group of physician practices.
Oak Point I & II are located within a growing medical micro-market anchored by Cleveland Clinic Indian River Hospital, surgery centers, as well as post operation rehabilitation, skilled nursing and senior living facilities. Estero Medical Center is adjacent to a Class A senior living campus and has excellent access to the existing Lee Health and future HCA medical facilities that stretch between the Fort Myers and Naples areas.
Dr. David Lynn, President and Chief Investment Officer of White Oak Healthcare MOB REIT said, “These stabilized buildings establish a presence for our company in two high-growth markets within close proximity to major medical centers. Each project is well located and easily accessible for patients and providers.”
About White Oak Healthcare MOB REIT & White Oak Healthcare Finance
White Oak Healthcare MOB REIT is a vertically-integrated healthcare real estate investment platform with extensive capabilities in acquisitions, underwriting, research, asset management and capital markets. The REIT, primarily invests in Class A medical properties in close proximity to large healthcare facilities in primary and secondary markets. It is a business division of White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC. WOHCF is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Together with its financing affiliates, WOGA provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $8 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.