575 Rivergate Ln. / Durango, Colorado 81301
Building Use: Hospital and Medical Office Building
RiverGate Medical Center is a campus acquired by Caddis in 2013 comprised of a surgical hospital and attached medical office building totaling 69,053 SF. RiverGate Medical Office Building is leased to physicians and providers of various medical specialties. Animas Surgical Hospital, which has been voted Colorado’s #1 hospital in patient care by Consumer Reports, is a 12 bed, 4 OR suite, acute care surgical hospital that is leased long-term to a joint venture of physician-owners and a national hospital operator. The campus is located on the banks of the Animas River in the picturesque tourist destination of Durango, Colorado.
Despite an average remaining lease term of only two years across the MOB tenants, Caddis was able to call upon its relationships with trusted debt and equity providers to successfully close on the transaction. The acquisition provided Caddis with the very rare opportunity to purchase an acute care hospital campus that serves as a model for physician-owned facilities both in terms of patient care and financial success.