JLL completes $50.3M monetization of fully leased medical outpatient building in Eugene, Oregon

SEATTLE, July 15, 2026 – JLL Capital Markets announced today the $50.3 million monetization of a fully leased, 157,296-square-foot multi-specialty medical outpatient building located at 1200 Hilyard St. in Eugene, Oregon, positioned two blocks from the University of Oregon campus in one of the state's most dynamic urban environments.

JLL represented the seller, PeaceHealth, as part of the disposition of its larger University District campus. This large outpatient building was acquired by Montecito Medical, one of the nation’s most active investors in medical outpatient real estate. As part of the deal, PeaceHealth entered into a 12-year sale-leaseback agreement and will continue operating its medical outpatient services at the property.

The medical outpatient building houses a comprehensive range of clinical services including primary care, internal medicine, women's health, pediatrics, urgent care, imaging, dermatology, endocrinology and behavioral health. Constructed in 1990 and substantially renovated in 2014, the property features large, efficient floor plates ranging from 20,000 to 41,000 gross square feet with 12-foot slab-to-slab heights. The attached 888-stall parking structure provides direct access to the medical building via an elevator core.

Eugene, the second-most populous city in Oregon, is home to approximately 383,000 residents within the metropolitan area and has experienced 12% population growth since 2010. The city serves as a regional healthcare hub for west-central Oregon and benefits from the economic stability provided by PeaceHealth’s 5,000 local employees and multiple institutions of higher education. The property is centrally located in Eugene, within walking distance of the University of Oregon, home to some 24,000 students, and the city's downtown core.

“We are pleased that this sale will allow our patients to continue to have uninterrupted, easy access to the high-quality treatment from the many talented caregivers who practice at our University District site,” said Alicia Beymer, chief administrative officer, Sacred Heart Medical Center at RiverBend.

JLL’s ongoing efforts on behalf of PeaceHealth are led by Managing Directors Tom Kirschbraun and Buzz Ellis. For this execution, JLL’s Healthcare and Medical Office Building (MOB) team was brought in, led by Senior Managing Directors Evan Kovac and Andrew Milne, Senior Director Matt DiCesare and Associate Sam Prendergast.

"Strategic monetization transactions allow health systems to unlock real estate value while preserving their care delivery footprint," Kovac said. "Growing healthcare utilization and aging demographics continue to support demand for well-located medical outpatient facilities."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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 WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

PeaceHealth, based in Vancouver, Wash., is a non-profit Catholic health system offering care to communities in Washington, Oregon and Alaska. PeaceHealth has approximately 16,000 caregivers, nearly 3,200 physicians and clinicians, more than 160 clinics and 9 medical centers serving both urban and rural communities throughout the Northwest. In 1890, the Sisters of St. Joseph of Peace founded what has become PeaceHealth. The Sisters shared expertise and transferred wisdom from one medical center to another, always finding the best way to serve the unmet need for healthcare in their communities. Today, PeaceHealth is the legacy of the founding Sisters and continues with a spirit of respect, stewardship, collaboration and social justice in fulfilling its Mission. Visit us online at peacehealth.org.

Montecito Medical is one of the nation’s largest privately held companies specializing in medical and veterinary real estate acquisitions and partnering with providers and developers to fund the development of new properties. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs, and build physician wealth. Since 2006, Montecito has completed more than $6.5 billion in medical and veterinary real estate transactions. Headquartered in Nashville, TN, the company has consistently been named as a "key influencer in healthcare real estate" by GlobeSt.com and the editors of Real Estate Forum.