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Starr's real estate venture acquires ThedaCare properties
Published July 28, 2008 - BizTimes Daily
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The Sanders Trust, a national medical real estate investment conglomerate whose management team includes former Green Bay Packers star and coach Bart Starr, today announced it has acquired ThedaCare's medical office portfolio of properties in Appleton and Neenah.
Valued at more than $34 million, the acquisition is one of The Sanders Trust's largest to date.
The five on-campus buildings are affiliated with the largest health care system in the Fox Valley, with a solid growth history and future expansion plans.
The portfolio is 98-percent leased, and the majority is leased by a mix of prominent and established physicians' practices.
Starr is vice chairman of The Sanders Trust.
"ThedaCare's management team is first-rate in every respect and I am pleased that we now have a presence in Wisconsin. I loved my days with the Packers and continue to enjoy so many wonderful relationships here," said Starr, who has focused on health care real estate and was responsible for developing the ThedaCare acquisition for The Sanders Trust.
Rance Sanders, chief executive officer of The Sanders Trust, which is based in Birmingham, Ala., said, "ThedaCare's medical portfolio provides further geographic diversification and financial strength to The Sanders Trust. Each property is leased to strong tenants, which is a critical quality when acquiring any asset for investment purposes."
"This agreement makes the most sense for everyone concerned," said Dr. Omar Atassi of Urology Associates of Wisconsin, and a member of the ThedaCare board of trustees. "As a physician and tenant, I believe that The Sanders Trust's experience and expertise in the field of medical office building management will be a benefit to patients and physician practices alike."
The Sanders Trust's portfolio now consists of 20 properties valued at $135 million in 10 diverse states.
