Real estate firms launch $150M ASC joint venture

Fort Street Partners and Chestnut Healthcare Real Estate have formed a joint venture to acquire and develop $150 million in outpatient medical and surgery centers over the next four years, according to a Jan. 3 report from the Commercial Property Executive.

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The joint venture will focus on properties in Salt Lake City. The two firms have worked together previously, collaborating on at least two Utah deals. 

In June, Fort Street Partners secured equity for a 20,399-square-foot medical project in Syracuse, Utah, through Chestnut Healthcare. One month later, the two companies partnered to develop the Eagle Mountain (Utah) Medical Center development, a 24,655-square-foot medical building. 

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

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