News Release: Elliot LaBreche and Abigail Kind Advise on Sale of Ft. Worth, Texas Medical Outpatient Building

FOR IMMEDIATE RELEASE

Transaction closed September 30 for newly constructed building with single tenant

Elliot LaBreche and Abigail Kind arranged the sale of a 20,200-square-foot medical outpatient building in Ft. Worth, Texas to Dallas-based Ridgeline Capital Partners. The transaction closed September 30. The seller, a joint venture between SkyWalker Property Partners and an orthopedic surgeon, developed the property in 2020.

LaBreche and Kind advised both parties in the transaction.

The two-story medical office building is leased on a long-term triple-net basis to a single tenant, a medical practice controlled by the physician JV partner. The practice specializes in hand, elbow and shoulder procedures, primary care and physical therapy. The property is located at 5612 Edwards Ranch in the affluent and growing Clearfork submarket.

“In April 2021, LaBreche and Kind approached Ridgeline on this opportunity to acquire a newly built Class A medical outpatient building in Fort Worth,” said Jeff Axley, founder and managing principal of Ridgeline Capital Partners. “We have acquired over $240 million worth of medical office buildings in Texas and this property aligns well with our investment strategy.”

“We were pleased to identify this great opportunity for both parties,” said LaBreche. “The buyer is able to add a new asset with a long-term tenant to its portfolio and the seller was able to achieve their valuation expectations.”

Elliot LaBreche’s team has closed transactions in Texas, South Carolina, Florida and has deals under contract in Pennsylvania, Wisconsin and Massachusetts. Total deal volume will exceed $100 million in 2021.