Woodside Health and Heitman announced the acquisition of Twelve Oaks Professional Center, a medical outpatient building (MOB) in Austin, Texas.
The original press release notes that this transaction represents Woodside Health’s 66th acquisition in the MOB space. Terms were not disclosed.
The MOB comprises five buildings and approximately 42,500 square feet of leasable space. Situated on four acres of land, it offers convenient access to Highway 183. The MOB is tenanted by a mix of medical providers.
Woodside Health is a private equity firm that invests in healthcare real estate. Since 2008, the firm has acquired more than 4 million square feet of healthcare real estate and completed approximately $1.5 billion in transaction volume. The firm has medical and health-related properties in Arizona, Nevada, Texas, Florida, Georgia and Ohio.
Founded in 1966, Heitman is a global real estate investment management firm with $48 billion in assets under management as of December 31, 2024. Heitman makes real estate investments through private equity, debt and publicly traded real estate securities. Heitman has acquired, developed and financed more than 250 assets at more than $5 billion in gross value.
“The acquisition of Twelve Oaks aligns with our investment strategy focused on well-located medical office properties in high-growth markets with strong healthcare tenants,” said Ben Barr, Principal at Woodside Health. “We’re excited to expand our presence in the Austin market with this addition to our portfolio.”
According to data in the LevinPro HC database, this transaction marks the 135th MOB deal of the year. There were 213 MOB transactions announced in 2024, and 199 announced in 2023. This deal also marks the 13th MOB to be purchased in Texas since the start of the year. There were 28 MOBs purchased in Texas in 2024, 18 in 2023.
Since the start of 2025, Woodside has announced four acquisitions and Heitman has announced two acquisitions. This is the second acquisition for the joint venture in 2025.
