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THE SANDERS TRUST ACQUIRES $34M MEDICAL OFFICE PORTFOLIO

APPLETON AND NEENAH, WIS. — The Sanders Trust has acquired a medical office portfolio in Appleton and Neenah from ThedaCare for $34 million.

The Birmingham, Ala.-based buyer will provide building management services for Medical Office Building West, Medical Office Building South and the Appleton Heart Institute buildings at Appleton Medical Center; the Theda Clark Medical Plaza office building; and the top two floors of the four-story Aylward Surgery Center at Theda Clark Medical Center in Neenah. The buildings total 225,000 square feet and are currently 98 percent leased.

ThedaCare will continue to own the land on which each building is built. Tenancy will be restricted to members of the active medical staff at both hospitals, and ThedaCare will retain control over which other types of healthcare services and providers will be located within the buildings.

“These facilities are a tremendous convenience for the independent physicians, who spend a great deal of time in the hospital, as well as their patients, who often need hospital-based care in connection with their physician appointments,” says Kathryn Correia, president of Appleton Medical Center and Theda Clark Medical Center.

Bart Starr, the Hall of Fame quarterback and former Green Bay Packer, is vice-chairman for The Sanders Trust, whose current portfolio consists of 20 properties valued at more than $135 million.

“ThedaCare and its management team are first-rate in every respect, and I am pleased that we have a relationship in Wisconsin with such a community-minded organization that delivers such outstanding care,” Starr says.

Content Partners
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