Evergreen Medical Properties and Bain Capital Real Estate Acquire Medical Office Facility in Greater Phoenix Area

JANUARY 04, 2022

Media Contacts

Atlanta and Boston, January 4, 2022 — Evergreen Medical Properties, a company that invests in, leases and manages healthcare facilities, and Bain Capital Real Estate, the real estate investing business of Bain Capital, today announced the acquisition of Akos Medical Plaza, a 37,424 square foot medical office facility in the Phoenix metropolitan area.  Financial terms of the private purchase from Boomerang Capital Partners were not disclosed. 

Conveniently located between two major hospitals, Banner Del E. Webb Medical Center and Banner Boswell Medical Center, the class A medical development features a four operating room ambulatory surgery center and is anchored by Apricus Health.  Akos Medical Plaza was built in 2008 and is 100% leased. 

“Our acquisition in Akos Medical Center represents a strong addition to our portfolio in an attractive market where we expect to evaluate additional investment opportunities,” said Josh Richmond, President of Evergreen Medical Properties.  “We look forward to serving the needs of its tenants and the community.”  

“This high-quality property located in a fast-growing Phoenix submarket aligns well with our thematic and growth-oriented approach to investing in medical office buildings and facilities,” said Elizabeth Carrillo Thomas, a Managing Director at Bain Capital Real Estate.  

Evergreen Medical Properties and Bain Capital Real Estate have a joint venture to acquire, renovate and operate institutional quality healthcare real estate in select markets throughout the U.S.  The joint venture focuses on mission critical outpatient medical office buildings.

About Evergreen Medical Properties 
Evergreen Medical Properties, with offices in both Denver and Atlanta, is a full-service real estate operating company that invests, leases and manages healthcare facilities across the United States. Evergreen uses a collaborative approach to invest in strategic healthcare real estate in order to align interests and build genuine relationships with health systems and providers.  Evergreen seeks to unlock capital, enhance the operating flexibility of its partners and create durable, long-term value in each of its healthcare real estate investments.

About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested over $5.6 billion of equity as of September 30, 2021 in over 475 assets across multiple sectors. Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. For more information, visit https://www.baincapital.com/businesses/real-estate.