Axsys Capital, an emerging leader in medical property investments, is pleased to announce a successful 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 six to 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 and 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 executed the acquisition, renovation, repositioning and sale of more than 25 commercial and mixed-use properties across the Midwest totaling more than $74 million.
The Axsys Capital Fund I acquired three properties in the second half of 2023, including 853 Medical Dr. in Wentzville, Missouri; W175 N11056 Stonewood Dr. in Germantown, Wisconsin and 9120-30 Loomis Rd., Franklin, Wisconsin, 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,” Meggs added.
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.
