On January 31, ESJ Capital Partners announced that it was acquiring a Pennsylvania-based medical outpatient building (MOB) portfolio for $16 million.
The 152,310-square-foot, nine-building MOB portfolio is located in Langhorne, Pennsylvania. The portfolio is currently more than 70% leased to established medical tenants, among them Quest Diagnostics, DaVita, LabCorp and the American Red Cross. The purchase price for the MOB portfolio is approximately $105 per square foot.
ESJ Capital Partners, founded in 2008, is a real estate investment firm with offices in Miami, Florida and Luxembourg, specializing in value-add opportunities across the United States. Offering a diversified national portfolio of more than 4 million square feet, ESJ focuses on opportunistic real estate and private equity investments, as well as providing securities brokerage services.
ESJ plans to implement $2.5 million in capital improvements to the MOB portfolio, including HVAC upgrades, new roof, updated wayfinding signage and modernization of vacant spaces.
“This acquisition aligns perfectly with our value-add strategy in strong healthcare submarkets,” said Arnaud Sitbon, Founder of ESJ Capital Partners. “We see a true niche in this evolving market. As our population ages, it will be requiring ancillary services which are housed in these types of centers.”
Ben Small, Head of Real Estate for ESJ, said, “the property is ideal, and the addition of our capital improvements further enhances its appeal, while creating significant additional value for our investors.”
According to data in the LevinPro HC database, this marks the 23rd MOB acquisition of 2025. There were 213 MOB deals announced in 2024, and 199 in 2023. This also represents ESJ’s first acquisition of the year.
