St. Luke’s University Health Network

St. Luke’s University Health Network (St. Luke’s) partnered with Boldt to fund the acquisition of existing outpatient facilities that were either owned or leased by St. Luke’s as well as provide capital for a new outpatient clinic. The strategy provided St. Luke’s with more competitive rental rates, flexible leasing structures, immediate liquidity, and the long-term control and ownership potential they desired for their outpatient locations.

The structures for each of the five projects were uniquely selected by St. Luke’s to fit within the economic and financial goals of each property. The first four projects involved the acquisition of one facility that was owned by a third party while the other acquisitions were purchased from St. Luke’s by Boldt and leased back. The final project used a similar structure to fund the deconstruction of an existing facility and the development of a new outpatient clinic. Each transaction was designed to allow the ownership of the buildings to transfer to St. Luke’s at the end of the lease term, achieving the goal of maintaining St. Luke’s long-term control of the properties in line with their strategic vision.