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Sign in Sign up for a FREE subscriptionEvergreen Medical, Bain Capital JV acquire Portland, Ore., area medical outpatient building
A joint venture between Evergreen Medical Properties and Bain Capital’s real estate team has acquired 4004 Kruse Way Place, a 59,865-square-foot medical outpatient building repositioning in Lake Oswego, Ore.
JLL represented the seller, Shorenstein and procured the buyer.
4004 Kruse Way Place is in the Kruse Way submarket, approximately 10 miles south of downtown Portland. The property is close to Interstate 5 and is surrounded by a variety of office buildings, multi-housing properties, retail and restaurant offerings. The three-story property is 74 percent leased and anchored by Providence Health & Services. The buyer intends to convert the building from an office building to a premier outpatient healthcare facility to meet the high demand for medical outpatient space within the submarket.