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Woodside Health Announces Sale of the Rockwall Medical Building, Rockwall (Dallas), TX

June 11th, 2015

Woodside Health has sold the Rockwall Medical Building, a medical office building in Rockwall, Texas, a suburb of Dallas. The building is located at 890 Rockwall Parkway and is on the campus of Texas Health Presbyterian Hospital Rockwall. The property, which has about 18,000 square feet, has five tenants including four associated with the hospital. Woodside Health acquired the building in late 2010.

"We have mixed feelings about selling our Rockwall property," said Ted Barr, Woodside Health Principal. "We've gotten to know the tenants and really like the hospital and area," he added. "We prefer to keep our properties for longer periods of time, improve them each year, and ensure that our tenants are well served. However, American Realty Capital is a first class organization and they'll continue to provide a comfortable and beautiful home for our tenants and their patients."

This is the first portfolio sale for Woodside Health, the medical office building acquisition and management firm with properties in Florida, North Carolina, Ohio, and Texas. Investors in the project realized a 16.0% IRR, exceeding the original forecasted return. The firm is in active discussions regarding additional acquisitions.

About Woodside Health
Cleveland-based Woodside Health is a medical office building acquisition and management firm. Unique to the industry, Woodside Health treats their tenants like customers. They proactively enhance the exterior and interior spaces of their buildings, and look to establish long-term relationships with their tenants. The firm's principals have decades of experience investing in and managing real estate. For more information, please visit www.WoodsideHealth.com.

 

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