White Oak Healthcare MOB REIT Announces Acquisition of Commonwealth Medical Park, in Petersburg, Virginia.
NEW YORK--(BUSINESS WIRE)--White Oak Healthcare MOB REIT today announced it has acquired Commonwealth Medical Park in Petersburg, Virginia.
Commonwealth Medical Park includes four buildings containing 48,237 SF and is located adjacent to Southside Regional Medical Center, a Bon Secours Mercy Health Hospital. The property is currently 93% leased to medical practices including Bon Secours physicians, pediatrics, optometry, dentistry, lab, dermatology, and others.
Dr. David Lynn, President and Chief Investment Officer of White Oak Healthcare MOB REIT said, “We are pleased to invest on behalf of our investors in this well-leased, well-located project and to create value through active management and local relationships with investments in assets located in high-growth markets within close proximity to major medical centers.”
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. White Oak Healthcare Finance (“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 has 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.