Banner Health, a leading healthcare provider, recently completed the sale of three medical office facilities in Tucson through sale-leasebacks. The buyer was The VanBarton Group, a reputable real estate investment manager based in New York. This transaction marks another successful deal for Banner’s 30-year history of providing tailored real estate solutions to institutional investors.
The portfolio acquired by The VanBarton Group was valued at $19.5 million and included three properties:
– University of Arizona Cancer Center at 1881 -1891 West Orange Grove sold for $10 million ($343 per square foot)
– Banner Multispecialty Clinic at 265 West Ina Road sold for $7.1 million ($324 per square foot)
– Banner Multispecialty Clinic at 7901 E 22nd Street sold for $2.4 million ($290 per square foot)
This strategic move allows Banner Health to focus on its core business while still maintaining ownership and occupancy of these high-quality medical facilities. These deals showcase the strong demand from investors in the Tucson market and further solidify Banner’s position as an expert in customized real estate strategies.
