National Dental Healthcare REIT (NDH REIT), a member of the Thurston Group portfolio, has announced the completion of its latest real estate acquisition. The acquired properties include nine medical outpatient buildings (MOBs) located across New Mexico, Arizona, Georgia, Colorado, Mississippi, Texas and Alabama.
NDH REIT partners with dental care providers in the general dental and specialty dental fields who own their real estate. NDH REIT was formed in mid-2020 by Thurston Group, a private equity firm focused on investments in healthcare service companies. Since then, the REIT has expanded to include 174 properties in 21 states.
This move further solidifies NDH REIT’s position as a frontrunner in the industry and underscores its commitment to expanding its diversified real estate portfolio. The MOB acquisition was finalized on March 22, 2024. Financial terms of the deal were not disclosed.
Patrick J. Haynes III, Chairman and CEO of Thurston Group, conveyed his enthusiasm about the acquisition, stating, “We are thrilled to finalize the acquisition of these nine properties, which marks a significant expansion of our real estate portfolio. This acquisition not only enhances our geographical presence but also stresses our commitment to delivering high-quality healthcare real estate solutions. We are eager to maximize the potential of these properties and drive further growth and success for NDH REIT.”
According to data captured in the LevinPro HC database, this transaction marks the 77th MOB acquisition of 2024. There were 194 MOB deals announced during 2023, and 216 announced during 2022.
