CIT Provides $39.25MM for Medical Office Buildings Acquisition

CIT’s Healthcare Finance business provided $39.25 million in financing for the acquisition of a portfolio of seven medical office buildings and dialysis centers in Texas, Georgia, Washington and Idaho. Affiliates of Ridgeline Capital Partners, a Texas-based firm focused exclusively on acquiring and operating healthcare real estate, purchased the properties, which represent more than 150,000 square feet of modern healthcare facilities.

“Our expertise is focused on acquiring and operating the best properties to serve the needs of the ever-changing healthcare industry,” Jeff Axley, founder and managing principal of Ridgeline Capital Partners, said. “We appreciate CIT’s expertise and agility in arranging the financing to acquire these properties.’

“Ridgeline Capital Partners is well-known for its growing portfolio of quality healthcare properties in key markets,” William Douglass, managing director and group head for CIT Healthcare Finance, said.

“We always work closely with Ridgeline Capital Partners to understand their financing needs and are pleased to continue our support of this successful MOB acquisition strategy,” Steven Reedy, managing director in CIT Healthcare Finance, said.



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