2008-07-28 21:42:18 -
- The Sanders Trust Donnetta Gallups-Ayers, 205-298-0809 dayers@sanderstrust.com The Sanders Trust, the national medical real estate investment company, announced today the acquisition of the ThedaCare(TM) medical office portfolio in Appleton and Neenah, Wisconsin. Valued at more than $34 million, the acquisition is one of The Sanders Trust's largest to date.
The five on-campus buildings are affiliated with the largest
system in the market with a solid growth history and future expansion plans. The Sanders Trust's investment strategy has been affirmed by a recent article in National Real Estate Investor Magazine, which characterized healthcare real estate as the new "recession proof" property type. This portfolio maintains strong tenancy with 98% leased, and the majority is leased by a diversified mix of prominent and established physicians' practices.
Rance M. Sanders, CEO of The Sanders Trust stated, "ThedaCare's medical portfolio provides further geographic diversification and financial strength to The Sanders Trust. Each property is leased to strong tenants, which is a critical quality when acquiring any asset for investment purposes."
The Sanders Trust already has strong ties to the state of Wisconsin. Football legend Bart Starr, The Sanders Trust's Vice Chairman said, "ThedaCare's management team is first-rate in every respect and I am pleased that we now have a presence in Wisconsin. I loved my days with the Packers and continue to enjoy so many wonderful relationships here." Starr has focused much of his last 18 years on healthcare real estate and was responsible for developing the ThedaCare acquisition for The Sanders Trust.
"This agreement makes the most sense for everyone concerned," said Omar Atassi, MD, of Urology Associates of Wisconsin, and a member of the ThedaCare Board of Trustees. "As a physician and tenant, I believe that The Sanders Trust's experience and expertise in the field of medical office building management will be a benefit to patients and physician practices alike," he said.
With its headquarters in Birmingham, Alabama, The Sanders Trust, www.sanderstrust.com, has developed or acquired more than $265,000,000 of healthcare properties, with typical holding periods of more than 10 years, and infrequent strategic asset sales. The Sanders Trust's portfolio now consists of 20 properties valued at $135,000,000 in 10 diverse states.
ΒΆ Bart Starr Renews Ties to the State of His Football Triumphs
