B
ain Capital's real estate arm and Evergreen Medical Properties have strengthened their US investment partnership with the acquisition of a medical outpatient facility in Washington DC. The 122,000sqft property at 2440 M Street in downtown's West End is now part of their portfolio.
The recently renovated building is 83% leased to a diverse mix of clinical tenants. According to Joe Marconi, partner at Bain Capital, the acquisition represents a strategic expansion into the DC market, aligning with their thematic investing approach and partnership with Evergreen.
Located near George Washington University Hospital, the facility is well-positioned to attract high-end providers and patients. Josh Richmond, president of Evergreen Medical Properties, expressed excitement about entering the DC market through this investment, aiming to build trust with local health systems and expand their presence in the region.
Bain Capital and Evergreen have built a portfolio of 34 medical outpatient buildings across the US, totaling 1.5m sqft. They continue to seek opportunities to grow their holdings.
