A US real estate investment partnership between Bain Capital Real Estate and Evergreen Medical Properties has acquired two medical office buildings.

The joint venture – which targets outpatient medical office buildings – has bought the properties in suburban St Louis, Missouri and in Providence, Rhode Island for an undisclosed sum. The assets have a combined total area of over 72,000sqft.

Bain Capital Real Estate and Evergreen Medical formed the joint venture to acquire, renovate and operate healthcare real estate in select markets throughout the US.

Elizabeth Carrillo Thomas, a managing director at Bain Capital Real Estate, said: “With the continued shift in healthcare delivery to outpatient settings for better outcomes and lower cost, we believe these high-quality properties represent a compelling opportunity to execute on our thematic and customer-focused investment strategy.”

Josh Richmond, president of Evergreen Medical Properties, said: “We are excited to build upon our partnership with the Bain Capital Real Estate team and grow our platform with these best-in-class medical office buildings.

“As a long-term real estate investor focused exclusively on the healthcare industry, we emphasize lasting relationships with our health system and physician group partners and seek to be a true value-add and solutions-oriented resource.”

To read the digital edition of the latest IPE Real Assets magazine click here.