Stage Equity Partners closed out 2025 with the acquisition of a two-building medical office portfolio in El Paso, Texas, that represented the firm’s ninth acquisition in the State of Texas.
The transaction was announced by Brian Howard, President and Founder of Stage Equity Partners. The seller was an institutional fund manager.
The buildings, located at 1390 and 1393 George Dieter Drive, total 40,750 square feet and are located along a top retail and medical corridor in El Paso’s fastest growing submarket. The desired single-story buildings provide direct tenant access and parking, along with an attractive mix of complimentary practices and specialties, including neurology, gastroenterology, general surgery, pediatrics, behavioral health, laboratory testing and oral surgery.
The properties are 100% leased with more than one third of the total space leased to health system credit tenants including University of El Paso Medical Center and Tenet Health. The weighted average lease term (WALT) is approximately 7.0 years, with rental rate escalations of 3.0% annually.
Howard added that El Paso’s medical office market is constricted due to the lack of newly constructed medical space delivered in the area needed to accommodate the area’s population growth. This further creates high demand for both general practitioners and specialists.
The El Paso acquisition helps create increased enthusiasm for 2026.
Since inception, Stage Equity has acquired fifty buildings throughout the Country, including nine medical office buildings and surgical centers throughout Texas totaling more than 250,000 square feet. In addition to the El Paso acquisition, the other Texas assets have been located in Dallas, Houston, San Antonio, Midland and Cleburne.
Jay Miele of Newmark represented the seller in the transaction. Wintrust Bank provided the acquisition financing.
