Woodside Health, an Ohio-based private equity firm focused on healthcare real estate, has completed the sale of Cornerstone Plaza, a medical and retail property in the Dallas-Fort Worth metropolitan area. The transaction involves a mixed-use asset with a strong healthcare component, reflecting the firm’s strategy of investing in healthcare-oriented properties.
Cornerstone Plaza is located in Southlake, Texas, within the broader Dallas-Fort Worth region. The property was originally built in 2002 and is positioned to serve both medical users and traditional retail tenants. Its tenant mix is led by Cook Children’s, which anchors the asset and provides a healthcare-focused presence that complements the additional retail users at the center.
The retail center encompasses 51,664 square feet of net rentable area across two buildings. These buildings sit on a 5.9-acre site and are supported by 273 parking spaces, providing surface parking for both medical and retail visitors. The project’s configuration reflects a suburban medical and retail layout, with the scale and parking ratios oriented toward drive-up access and convenience for patients and shoppers.
JLL arranged financing for the asset on behalf of the borrower, Brownlee Waggoner Holdings. The financing was provided by Hillcrest Bank, a division of NBH Bank. JLL’s Capital Markets Debt Advisory team represented the borrower in securing the loan, indicating that debt capital was put in place in connection with the asset’s current ownership structure.
The JLL team working on the assignment was led by Senior Managing Director John Rose, Director Kristi Leonard, and Associate Chad Lisbeth. Their role centered on structuring and arranging the loan for Brownlee Waggoner Holdings with Hillcrest Bank, aligning the capital stack with the property’s profile as a medical and retail center anchored by a major healthcare tenant.
Ben Barr, a principal at Woodside Health, described Cornerstone Plaza as being exceptionally well located within the Southlake market and supported by a quality tenant roster led by Cook Children’s. His comments underscore the perceived strength of the asset’s location and tenant mix, which feature a combination of healthcare and retail uses in a growing suburban environment within the Dallas-Fort Worth metropolitan area.
