Stan Johnson Closes Sale of Texas Medical Center
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Midtown Medical Office Building, 900 Jerome St., Fort Worth, Texas
Fort Worth, Texas—Stan Johnson Co. has recently closed the sale of a multi-tenant medical office building in Fort Worth, Texas. Ridgeline Capital Partners sold the 57,404-square-foot Midtown Medical Office Building to Roque Properties for $19.2 million.
The company represented both the seller and the buyer in the transaction. Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell of the Healthcare Net Lease Group of Stan Johnson Co. represented the seller. The team received multiple offers and narrowed it down to two potential buyers, a 1031 investor and an institutional buyer. The final price represented a sales cap rate with 75-100 basis points over the market.
“In the end it was a major win for our client. They had purchased the building a year before the sale had occurred and achieved a very high return on their investment,” said Wilkins in a prepared statement…
