Chicago, IL (February 20, 2023) – RX Health and Science Trust (“RXHST”), an internally managed, real estate investment trust (REIT) focused on the acquisition and development of medical office facilities across the U.S., announced today the acquisition of Union Park in the Atlanta, GA MSA. The property consists of over 178,000 square feet spread across a fourbuilding campus. Union Park is located less than 1-mile from one of the largest concentrations of healthcare facilities in the Southeast, known as “Pill Hill”.

 

"We are thrilled to add another excellent property to our growing portfolio," says Russell Brenner, President. “The combination of the property’s terrific location and our operating expertise will further accelerate the transition to a medical office campus. This acquisition brings our portfolio to eleven medical office buildings with over 580,000 square feet.”

 

Union Park is less than 1-mile away from the intersection of I-285 and GA-400 and will provides seamless access to multiple nearby hospitals including Northside Hospital (621 beds), Emory Saint Joseph’s Hospital (410 beds), Children’s Healthcare of Atlanta at Scottish Rite (319 beds), as well as hundreds of physician practices.

 

“We are excited to continue our expansion across the country with this entry into the Atlanta market,” said Jesse Ostrow, Chief Investment Officer. “Not only does the acquisition further our investment strategy, but it demonstrates RXHST’s ability to complete acquisitions in a challenging market.”

 

RXHST is extremely active in the pursuit of acquiring medical office buildings. RXHST has the full support of its investors, Davidson Kempner Capital Management LP and Monarch Alternative Capital, who have a combined equity commitment of over $225 million. Additionally, the company has a $275 million line of credit, which is led by KeyBanc Capital Markets, Inc. This combination provides RXHST with significant capital to not only pursue, but quickly close potential acquisitions.

 

RXHST was founded on a mission of owning, developing, and operating medical office properties that provide convenient care to end users across the country. The well-located properties attract premier medical tenants, enabling them to deliver best-inclass care to their patients. RXHST differentiates itself in its hands-on approach to all aspects of ownership, particularly property operations, ensuring exceptional experiences for healthcare tenants.