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February 22, 2020
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Providence St. Joseph Health Collects $59 Mil from Initial Phase of Portfolio Sale

1/27/20

Providence St. Joseph Health (PSJH) has sold the first phase of a more than 344k sf, 10-property portfolio for roughly $59 mil. The 10 properties are located in the states of California, Washington, Oregon and Montana and range in asset type from medical to office and flex industrial.

The buyers were a diverse group of investors ranging from private equity funds to physicians and multi-family developers. For PSJH, the objective of the portfolio sale is to optimize operational efficiency and unlock capital. Proceeds from the first round of sales have already been earmarked for strategic acquisitions throughout the PSJH service areas.

The second phase of assets to be sold will be released to the market in early 2020 and will be comprised of medical, office and land assets in Alaska, Washington, Oregon, Montana and California. Previously, in mid-2019, PSJH sold a selection of non-essential real estate assets located across Alaska, Washington, Oregon, Montana and California.




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