Woodside Health Buys Oregon MOB

Woodside Health has acquired Pinnacle Medical Outpatient Building, a 37,486-square-foot medical facility in Bend, Ore. This marks the company’s first investment in the state.

Bend Surgical Associates previously owned the asset, according to Yardi Matrix information. Last year, the property became subject to an $8.9 million loan originated by Washington Trust Bank, due to mature in 2029.

Completed in 2007, the building at 2450 NE Mary Rose Place is close to Highway 20 and 3 miles from Bend’s city center. Other medical providers in the area include St. Charles Bend Hospital and Peters Dermatology Center.

The two-story facility was fully leased at the time of sale. Tenants include Juniper Dermatology, Infocus Eye Care and Central Oregon Ear, Nose and Throat, as well as Medix Infusion.

Woodside’s recent medical office expansion

The transaction is Woodside Health’s 68th acquisition since its founding in 2008. The firm has purchased more than 4 million square feet of health-care assets through a steady stream of medical office building investments.

In July, the firm acquired The Physicians Centre, a 126,059-square-foot medical office building in Bryan, Texas. The facility was leased to 37 tenants at the time of sale. Previously, the company also purchased two medical assets in the Greater Orlando, Fla., area.

Woodside is also an active investment partner alongside Heitman. The duo recently bought Sugar Land Physicians Center, a medical outpatient facility in Sugar Land, Texas, spanning about 60,000 square feet. That building came online in 2014.