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| Mindy Berman |
CHICAGO,
IL – JLL Capital Markets has closed the sale of a
four-property, Class A medical office portfolio totaling 111,827 square feet in
Milwaukee and Green Bay, Wisconsin. The price was not disclosed.
 |
| Evan Kovac |
JLL marketed the
properties on behalf of the seller, Stage Equity Partners, a leading private
owner of medical office buildings, headquartered in Chicago.
The portfolio was acquired by
Big Sky Medical via a competitive process that yielded extremely strong
interest from a range of institutional investors.
The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Evan Kovac and Mindy Berman, Managing Director Tim Joyce, Director Matt DiCesare and Vice President Trent Jemmett. Local support was provided by Senior Managing Director Jamie Fink.
 |
Tim Joyce
|
“We acquired the
properties over a period of three years, with the notion that the aggregation
would ultimately set up for a portfolio sale” said Brian Howard,
President of Stage Equity Partners.
“Two of the properties required additional lease up as well as
long-term building upgrades. Once we completed the work, we determined it was
the right time to evaluate an exit.
"The JLL team did a phenomenal job running a process and
overseeing the sale. Big Sky is acquiring a terrific portfolio with a great
tenant mix.”
 |
| Matt DiCesare |
The portfolio is 98%
leased overall, with 85% of the tenancy with market-leading, investment
grade-rated hospitals, including Children’s Wisconsin, Hospital Sisters Health
System, Ascension and Advocate Aurora Health Care.
The
medical office portfolio consists of:
- 4655 N. Port Washington Rd., Glendale
- 8375 South Howell Ave., Oak Creek
- 8800 Washington Ave., Mt. Pleasant
- 1727 Shawano Ave., Green Bay
“We’re very happy to add these
assets to our growing portfolio and thankful to JLL and Stage Equity Partners
for facilitating a smooth transaction,” Jason Signor, Managing Partner
at Big Sky.
 |
| Jason Signor |
“This is our second successful purchase from Stage Equity Partners,
and we’re happy that Big Sky and the tenants in the buildings will benefit from
their continued management of the properties. We hope to have opportunities to
work with Brian and his team again.”
 |
Trent Jemmett
|
Three of the four properties
are in suburban Milwaukee, the largest city in Wisconsin and ranking as the 39th largest
MSA in the country. Milwaukee is convenient to Chicago and boasts massive
public and private investment in infrastructure, a vibrant and economically
diverse employment base and a rich historical culture.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
 |
| Jamie Fink |
The firm's in-depth local market and global
investor knowledge delivers the best-in-class solutions for clients — whether
investment sales and advisory, debt advisory, equity advisory or a
recapitalization. The firm has more than 3,000 Capital Markets specialists
worldwide with offices in nearly 50 countries.
For
more news, videos and research resources on JLL, please visit our newsroom.
About
Stage Equity Partners, LLC
Stage
Equity Partners is one of the nation’s leading owners of healthcare real estate
properties, including medical office buildings and surgery centers.
 |
| Brian Howard, |
Stage
acquires, develops and manages top medical office buildings across the country,
with a focus on the Midwest and Southeast, including Texas.
About
Big Sky Medical
Big
Sky Medical is an investment manager focused on commercial real estate across
the United States with an overweight focus on the medical office sector.
Over
the past 15 years, its principals have invested in nearly 6 million square feet
of healthcare property coast to coast, representing $1.6 billion of total cost.
CONTACT:
Cierra
Lacasse
JLL Associate
Public Relations
Phone: +1
602 648 8701
Email: Cierra Lacasse@am.jll.com
