Libertyville, IL AXSYS Capital has completed anl initial closing of its premier AXSYS Capital Fund I, LP. The fund will focus on acquiring medical office buildings (MOBs) across the Midwest over the next 6-12 months, including Illinois, Missouri, Ohio and Wisconsin.
“The initial closing of AXSYS Capital Fund I enhances our firm’s capabilities and emphasizes our focus on identifying and capitalizing on properties we consider to be high quality, ‘recession-proof’ assets with stable, creditworthy medical and professional services tenants that we can hold long term,” said David Meggs, co-founder & CEO of AXSYS Capital.
AXSYS Capital has identified a niche in high-quality properties, primarily medical, in the $2 million to $6 million price point, that are off the radar of institutional investors and have above-market returns. To date, AXSYS Capital has successfully executed the acquisition, renovation, repositioning and sale of more than 25 transformative commercial and mixed-use properties across the Midwest totaling more than $74M.
The AXSYS Capital Fund I acquired three properties in the second half of 2023, including 853 Medical Dr. in Wentzville, MO; W175 N11056 Stonewood Dr. in Germantown, WI; and 9120-30 Loomis Rd., Franklin, WI, respectively. These properties all contain a mix of medical and professional tenants with long-term leases in place.
“We believe that these types of properties can provide a hedge against inflation and add diversity to portfolios where so often there is an overreliance on the stock market via stocks and bonds,” said Meggs.
Over the next few months, AXSYS Capital expects to close on up to five additional properties across the Midwest utilizing funds from AXSYS Capital Fund I.
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