Ridgeline Capital Buys Dallas Medical Facility

The Professional Building I is at the entrance of the White Rock Medical Center campus. Image courtesy of Ridgeline Capital Partners

Ridgeline Capital Partners has acquired The Professional Building I, a 44,045-square-foot medical office building in Dallas. The seller was 2GR Equity, CommercialEdge data shows. At the time of the deal, the on-campus asset was 94 percent leased.

According to the same source, the property previously traded in 2015, when 2GR Equity purchased the leasehold interest only from Tenet Healthcare, with renovations planned for the newly acquired property. At that point in time, the building was 76 percent leased, according to the Fort Worth Business Press.

The four-story, Class B asset came online in 1976 and underwent cosmetic renovations in 2016. The property is at the entrance of White Rock Medical Center campus and shares parking with City Hospital at White Rock, without a specific number of spaces allotted. The facility offers two passenger elevators, covered parking and controlled access.

Medical services available at the center include Ob/Gyn, primary care, internal medicine, neurology, pediatrics, bariatrics, dental, optometry, lab and pharmacy. The building’s tenant roster includes Dallas Doctors Pain Clinic, Comprehensive Pediatric Care and Plunk & Dragan Smiles.

The property is at 1151 N. Bruckner Blvd., has access to interstates 30 and 635 and is 8 miles northeast of downtown Dallas. Other medical providers in the surrounding area include White Rock Family Health, Care Family Health Center and Sanitas Medical Center, among others.

Year-to-date through December, five medical office buildings changed hands in the Dallas-Fort Worth market totaling of 327,000 square feet, CommercialEdge data shows. Last month, Big Sky Medical acquired Richardson Medical Center I in Richardson, from Pillar Commercial.