December 20, 2013
DALLAS, TEXAS – Leading national healthcare real estate firm Caddis Partners LLC closed today on the acquisition of the 69,053 square foot RiverGate Medical Center in Durango, Colo. The transaction was a joint venture with MedProperties Holdings LLC. The RiverGate acquisition includes a two-story, 38,548 square foot medical office building (MOB), which is 100 percent leased to 16 tenants offering a variety of medical specialties, including orthopedic and sports medicine, pediatrics, obstetrics/ gynecology, podiatry, spinal care services, and plastic and reconstructive surgery.
The MOB is attached to Animas Surgical Hospital, a 30,505 square foot facility consisting of 12 beds and four operating rooms that is leased long term to a single tenant, a joint venture of physician-owners and Symbion Healthcare, the hospital’s operator. The medical center is ideally located near downtown Durango and every patient room in the hospital has unobstructed views of the San Juan Mountains or the Animas River. “Durango is a growing, industrious town with a variety of economic drivers supporting it, including skiing and tourism, strong regional and national businesses, and a robust energy industry,” says Matt Mattox, Caddis Partners Executive Vice President & Partner. “This outstanding group of physicians and practitioners supporting the hospital campus draws patients from a quite a large geographic area who are seeking high quality medical care.”
“Animas Hospital has had a strong track record and a great deal of success over the years,” says Barrett Freeman, Caddis Partners Director of Acquisitions. “Consumer Reports ranked it #1 in patient satisfaction in 2010 and 2011, and a 2012 national patient survey by the federal government placed it as the highest ranking hospital out of its list of 50 hospitals.”
About Caddis Partners
Caddis Partners, LLC is a Dallas‐based real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired over one million square feet of medical assets valued in excess of $350 million. For more information about Caddis Partners, please visit our website at www.CaddisPartners.com.