Fengate expands healthcare infrastructure portfolio with acquisition of 24 U.S. outpatient facilities

Fengate Asset Management (Fengate) is pleased to announce the acquisition of a portfolio of 24 medical outpatient facilities from a top United States (U.S.) healthcare system under a sale-leaseback agreement.

The facilities, located across two states, add more than 900,000 square feet of medical space to Fengate’s growing healthcare portfolio. The firm has been investing in social infrastructure since 2006 and manages more than 55 healthcare assets across the U.S. and Canada.

“Fengate is proud to partner with one of the largest and strongest not-for-profit health systems in the U.S. on this transaction alongside our partner, MedCraft,” said Mac Bell, Managing Director, Head of Social and Transportation at Fengate.

The transaction is the first acquisition by the Fengate-MedCraft joint venture.

“We look forward to managing the outpatient facilities to help meet the evolving healthcare needs of growing communities, while generating strong and stable returns for our investors,” said Bell.

Fengate is managing this investment on behalf of its infrastructure investors and affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.