Chicago (September 15, 2021) – RX Health & Science Trust, Inc. (“RXHST”), a newly formed and externally managed private real estate investment trust (REIT) focused on the acquisition and development of outpatient medical office facilities across the U.S., today announced the closing of an investment of up to $245 million from partners Davidson Kempner Capital Management LP (“Davidson Kempner”), Monarch Alternative Capital LP (“Monarch”) and other investors. RXHST intends to use the proceeds from the investment for the acquisition, development and renovation of outpatient medical properties.

 

“The investment, backed by asset management firms Davidson Kempner and Monarch, is a direct reflection of the RXHST team’s extensive industry expertise and execution reliability,” said Russell Brenner, President of RX Health & Science Trust. “There could not be a platform better equipped to capitalize on the enormous opportunity existing in the healthcare real estate sector.”

 

In connection with the closing of the investment, RXHST has announced the closing of two acquisitions worth more than $50 million combined to acquire outpatient medical buildings in Naperville, Illinois (Chicago area) and Gilbert, Arizona (Phoenix area). The transactions account for a total of 131,049 square feet across Illinois and Arizona – two U.S. markets experiencing strong demand for outpatient medical buildings driven by compelling macroeconomic tailwinds fueling demand for healthcare real estate.

 

“I am incredibly proud of the RXHST team and grateful for our partners, who have allowed us to hit the ground running with more than $50 million in initial transactions to accompany the official closing of the private offering – momentous accomplishments that allow us to capitalize on the strong demand for outpatient healthcare real estate and the continued growth and success we have experienced in the outpatient medical space,” said Russell Brenner, President of RX Health & Science Trust. “RXHST’s successful launch is a sign of the compelling opportunities ahead of us as we continue to acquire, build and renovate a national portfolio of healthcare real estate assets for our tenants, providing them with premier facilities for the delivery of healthcare services.”

 

“The closing of the Naperville and Gilbert properties are the result of our veteran team’s extensive outpatient medical real estate sector experience and industry relationships to source attractive investment opportunities for the growing RXHST portfolio,” said Jesse Ostrow, Chief Investment Officer of RX Health & Science Trust. “This significant milestone marks an exciting inflection point in our outpatient medical property investment strategy and will help us deliver significant value to both tenants and investors.”