DIGNITY AND BLUE SKY COLLABORATE ON MOB

Blue Sky is pleased to announce a collaboration with Dignity Health to acquire a 99,000 SF specialty care facility at 6555 Coyle Avenue in Carmichael, California. The outpatient building is located on the Mercy San Juan Hospital campus.

Blue Sky’s acquisition of the property allows for a restructuring of the leasehold to lower occupancy costs and create new benefits and improved outcomes for the health care system.

“We are really excited about partnering with Blue Sky, a truly unique company focused on providing benefits to not-for-profits, to improve both the building and, more importantly, our patients’ experience – especially in today’s challenging environment,” said Jennifer Tanner, Division Manager for Real Estate Transactions & Portfolio Strategy of Common Spirit.

“Blue Sky listened to Dignity’s objectives with respect to its tenancy at Coyle Avenue. Together, we structured a transaction that allows the institution to strengthen its service to the local community,” said Joel Papo, Chief Operating Officer of Blue Sky.

Bill Swettenham and Eric Ortiz of Colliers represented Blue Sky on the acquisition of the property. Colliers is also providing property management and leasing services for the building. Meredith Kane, Barry Langman and Felicia Siegel of Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to Blue Sky. CGA Capital served as capital markets advisor and lender, and through an affiliate privately issued lease-backed securities.