Chicago (November 4, 2021) – RX Health & Science Trust, Inc. (“RXHST”), a newly formed and externally managed private real estate investment trust (REIT) focused on the acquisition, development and renovation of outpatient medical facilities across the U.S., today announced the closing of an acquisition of a property in Elgin, Illinois. The investment was the result of an off-market transaction with a publicly traded REIT. The more than 95,000-square-foot building spanning four stories is home to numerous prominent healthcare tenants including Derick Dermatology, Suburban Orthopedics and Northwestern Medicine.

“The Elgin acquisition is the product of our team’s strong relationship and history with the seller, allowing us to have a direct conversation to structure a mutually beneficial transaction,” said Russell Brenner, President of RXHST. “Strongly aligned with RXHST’s value-add strategy, our skilled team has already identified numerous near-term opportunities to significantly improve the asset’s profile and value, all of which will contribute to an enhanced tenant experience. I couldn’t be more pleased with the early momentum RXHST continues to see and am delighted to add the Elgin property and its excellent roster of healthcare provider tenants to our growing portfolio.”

Situated at 1600 Randall Road, the property is conveniently located along both a significant traffic artery and near I-90, a major interstate highway, including a four-way interchange. The property is adjacent to the 225-bed Advocate Sherman Hospital – one of the nation’s most premier regional hospitals and part of one of the largest not-for-profit hospital systems in the U.S., Advocate Aurora Health.

“We are thrilled to announce RXHST’s fourth acquisition and continue our early momentum in successfully sourcing and closing on attractive investment opportunities,” said Jesse Ostrow, Chief Investment Officer of RXHST. RXHST continues to provide a desirable solution to property owners that are looking for an experienced, creative and well-capitalized platform to efficiently process a deal from letter of intent through closing.”

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Felicia Shotkoski