Ridgeline grabs MOBs in Fort Worth, Houston

FORT WORTH, HOUSTON – Dallas-based Ridgeline Capital Partners has acquired two medical office buildings in Fort Worth and Houston.

In Fort Worth, the investor purchased the Midtown Medical building, which was built in 2013. The four-story, 60,000-sf Class A building is situated in the Fort Worth medical district within one mile of all of Tarrant County’s five major hospitals.

The property, located at 900 Jerome St., is 96 percent leased by eight medical practices including anchor North Texas Specialty Physicians, an Independent Physician Association founded in 1995 and comprised of nearly 650 physicians.

The property is situated in a densely populated infill area adjacent to hotels and restaurants, with access just off I-30 and the new Chisholm Trail.

In Houston, Ridgline purchased The Patients MOB, which was built in 2007. The two-story, 48,000-sf Class A building connects to the CHI St. Luke’s Patients Medical Center hospital.

The building, located at 4500 East Sam Houston Pkwy. South, is 73 percent occupied by eight established medical practices.

Tenants include anchor CHI St. Luke’s, Occupational Medical Care, and East Houston Orthopedics. Ridgeline will rebrand the building and construct spec suites and has hired Transwestern to lease and manage the building.