Latest acquisitions.

8 properties owned or under contract · 213K square feet · $37M+ acquisition volume since Jul 2025 · 7 states: OR, FL, TX, KY, NJ, IL, CT

Includes the Shaw’s Cove Medical Portfolio (New London, CT and Uvalde, TX), under contract.

Property	Location	Type	SF	Anchor tenant	Price	Closed	Status
Harvard Medical Park	Roseburg, OR	Medical office	94,855	CommonSpirit Health	$12.9M	Feb 2026	Owned
Fleming Island Village	Fleming Island, FL	Healthcare retail	36,398	FL Cancer Specialists	$7.9M	May 2026	Owned
DaVita Beaumont	Beaumont, TX	Dialysis, net lease	15,041	DaVita, Inc.	$4.4M	Jul 2025	Owned
DaVita Jenkins	Jenkins, KY	Dialysis, net lease	5,523	DaVita, Inc.	$1.3M	Jul 2026	Owned
DaVita Browns Mills	Browns Mills, NJ	Dialysis, net lease	8,000	DaVita, Inc.	$2.5M	Aug 2026	Owned
Fresenius Chicago	Chicago, IL	Dialysis, net lease	10,947	Fresenius	$2.8M	Aug 2026	Owned
5 Shaw’s Cove	New London, CT	Medical office	36,400	DaVita + 7 others	$5.0M	Q4 2026	Under contract
Fresenius Uvalde	Uvalde, TX	Dialysis, net lease	5,935	Fresenius	$0.5M	Q4 2026	Under contract
Total	8 properties, 7 states		213,099		$37.4M

Roseburg, OregonOwned

Harvard Medical Park

Multi-building medical office park across the street from Mercy Medical Center, anchored by CommonSpirit Health. We bought it with short lease term, deferred roof and HVAC work, and vacancy.

Size: 94,855 SF
Price: $12.9M
Closed: February 2026
Anchor: CommonSpirit Health
Anchor space: 20,000+ SF
Manager: PREF (Yardi)

2026 progress

Weighted average lease term: ~2.4 years at closing, ~4.2 years today.
Annual base rent: ~$1.64M at closing, ~$1.81M today.
Five-year lease signed with Aviva Health (Suites 110-125, 3% annual increases); five-year early renewal with Oregon Oral & Facial Surgeons.
$937K roof and HVAC replacement completed.
CommonSpirit renewal discussions underway; the tenant is replacing its MRI at the property.

Fleming Island, FloridaOwned

Fleming Island Village

Neighborhood center in the Jacksonville MSA anchored by Florida Cancer Specialists and Community Hospice. At acquisition it had a vacant 10,000 SF outparcel and unleased shell space.

Size: 36,398 SF + 10,000 SF pad
Price: $7.9M
Closed: May 2026
Anchor: Florida Cancer Specialists
Lender: SouthState Bank
Construction: In-house

2026 progress

10,000 SF lease signed with The Learning Experience on the outparcel at $44/SF; $5.5M SouthState construction loan.
Community Hospice expansion into Suite 8: LOI signed, lease in negotiation.
Ten-year lease signed with JMJ Clinic (OB/GYN); five-year Allstate renewal.
In discussions with Optum and Valvoline for remaining space.

Beaumont, TexasOwned

DaVita Dialysis, Beaumont

33-station DaVita clinic on the CHRISTUS St. Elizabeth Hospital campus. We bought it with about four years of lease term remaining.

Size: 15,041 SF on 1.9 acres
Price: $4.4M
Closed: July 2025
Tenant: DaVita, Inc.
Lease: Absolute net
Remaining term: ~13 years

Since acquisition

Lease amended March 2026: extended nine years, ~13 years remaining.
Two 10% rent increases added in the extension.
Acquired at a 7.85% cap rate.
Prior DaVita sales by the partners: bought at 7.6% and 8.1% caps, sold at 5.9% and 6.3% after lease extensions.

Jenkins, KY · Browns Mills, NJ · Chicago, ILOwned

Dialysis Portfolio

Three corporate-guaranteed dialysis clinics · 24,470 SF · $6.63M · closed Jul-Aug 2026 · SouthState Bank

Jenkins, KY · DaVita

483 Gateway Industrial Park · 5,523 SF

Price: $1.33M
Going-in cap: 10.0%
Term: ~3 to 11 yrs (+8)
Market: Near Jenkins Community Hospital

Browns Mills, NJ · DaVita

107 Trenton Road · 8,000 SF

Price: $2.50M
Going-in cap: 8.3%
Term: ~3.5 to 13 yrs (+10)
Market: Deborah Heart & Lung corridor

Chicago, IL · Fresenius

3134 W. 76th Street · 10,947 SF

Price: $2.80M
Going-in cap: 8.4%
Term: ~7.8 yrs
Utilization: 39 machines · 130+ patients

Lease extensions

DaVita extended Jenkins by eight years and Browns Mills by ten, signed within a month of closing. Portfolio term is now ~10 years.

Lease structure

Corporate guaranties from DaVita, Inc. (S&P BB) and Fresenius (S&P BBB-). Tenants pay all expenses except roof and structure.

New London, CT · Uvalde, TXUnder contract

Shaw’s Cove Medical Portfolio

A 36,400 SF medical office building across from Lawrence + Memorial Hospital (Yale New Haven Health), anchored by DaVita, and a net-leased Fresenius clinic in Uvalde, TX. Dialysis tenants pay 54% of base rent.

Size: 42,335 SF
Contract price: $5.56M
Expected closing: Q4 2026
Anchors: DaVita & Fresenius
Dialysis share: 54% of base rent
Lenders: Flagstar, SouthState

Key terms

DaVita lease extended during diligence, now with a DaVita, Inc. corporate guaranty (the prior lease had none).
Financing: Flagstar (SOFR + 200) on New London; SouthState, non-recourse, on Uvalde.
Plan: re-lease below-market suites as they roll; replace the roof, with DaVita reimbursing its share.
Projected Year-1 cash yield of ~10%.

Riverhead, New YorkPartners’ portfolio

Riverhead Medical Campus

Medical office property on Long Island’s East End, anchored by NYU Langone Health and Northwell Health (50,000+ SF combined). Bought with rents about 20% below market, deferred capital work and an outparcel for development.

Size: ~100,000 SF
Occupancy: 100%
Purchase price: $22.8M
Closed: 2025
NOI today: $2.15M, up from ~$1.9M
Weighted average lease term: ~11 yrs

Since acquisition

Leases extended: NYU 5 years, Stony Brook 6 years, Long Island Select 10 years.
Tenant improvement allowance to NYU for a long-term commitment; NYU opened a 26,000 SF MRI center after a $10M+ build-out.
New NYU roof, curbs and sidewalks; new HVAC for Long Island Select.
Rendering: proposed 27,800 SF medical building on the outparcel (Gensler).
Build-to-suit proposal presented to NYU. Site plan with the Town of Riverhead; public hearing expected December 2026. Team includes Gensler and Gabriel Marquez.
$151K Annual property tax savings