JLL Capital Markets advised Fort Street Partners on the equity placement for the Eagle Mountain Medical Office Building Development in Eagle Mountain, Utah.
News release
18 July 2024
Equity secured for the development of Utah medical office building
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SALT LAKE CITY, UT, July 18, 2024 – JLL Capital Markets announced today that it has arranged equity placement for the Eagle Mountain Medical Office Building Development (“Eagle MOB”), a 24,655-square-foot medical office project in Eagle Mountain, Utah.
JLL advised Fort Street Partners to secure the equity through Chestnut Healthcare Real Estate.
Located 38 miles south of downtown Salt Lake City, Eagle MOB is projected to be completed during the third quarter of 2025 and will be occupied by several regional physician groups. The two-story project will be built on a 1.72-acre site at 4263 N Pony Express Pkwy in the heart of rapidly growing Eagle Mountain.
The JLL Capital Markets team was led by Director CJ Kodani and Managing Director Mark Root.
“We were delighted to have facilitated the equity placement for the Eagle MOB development,” said Kodani. “The development’s strong tenant mix, long lease terms and strategic Eagle Mountain, Utah, growth market location make this a great investment opportunity for all parties involved.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fort Street Partners
Fort Street Partners owns and manages for over 1,000,000 square feet of commercial office, medical, and retail space throughout Utah. Fort Street Partners continues to build its portfolio valued at over $300 Million while providing a wide range of services including ground-up development, property & construction management, property accounting, and leasing services. The executive team is comprised of professionals with a deep understanding of Utah’s commercial real estate market with decades of experience and a focus on providing exceptional returns for our investors. To learn more, please visit: fortstreetpartners.com
About Chestnut Healthcare Real Estate
Chestnut Healthcare Real Estate invests in institutional quality healthcare real estate to support the strategic delivery of healthcare services in communities across the US. We develop and acquire properties directly and with experienced operating partners. With a focus on lower middle-market properties that are typically overlooked by institutional investors, Chestnut seeks to create compelling portfolios of healthcare real estate properties that deliver value for investors, healthcare providers, and communities. To learn more, please visit: chestnutfunds.com.