Bain Capital and Evergreen Medical Properties Complete Real Estate Acquisition of Six-Asset Medical Outpatient Building Portfolio in Atlanta
ATLANTA and BOSTON — Bain Capital's Real Estate team and Evergreen Medical Properties announced April 9, 2026, the completion of a real estate acquisition of a medical outpatient building portfolio consisting of six Class-A assets totaling approximately 665,000 square feet across the Atlanta metropolitan area. The private, off-market transaction was executed through a partnership between the two firms focused on acquiring, renovating, and operating mission-critical medical outpatient facilities.
The medical outpatient buildings are anchored by Northside Hospital, a healthcare provider operating five acute-care hospitals and nearly 500 outpatient facilities across 25 counties in the Atlanta metropolitan statistical area. The portfolio is 93% leased and includes tenants spanning diverse medical specialties and high-acuity services. The six assets are located in the "Pill Hill" and Alpharetta submarkets of Atlanta.
Deal Details and Strategic Rationale
The acquisition was completed on an off-market basis, with financial terms undisclosed. Realty Trust Group, a national healthcare advisory firm, advised Northside Hospital on the transaction.
"We're pleased to expand our presence in Atlanta, a high-conviction market, as well as our relationship with Northside Hospital as we execute a value creation plan alongside the Evergreen team that enhances the facilities' ability to better serve patients across the Atlanta area," said Lukas Gregg, a Managing Director at Bain Capital. "This transaction is an attractive opportunity to acquire a high-quality portfolio of mission-critical assets supported by strong market dynamics and we are grateful to be the new stewards of it."
Joshua Richmond, President of Evergreen Medical Properties, added: "We're ecstatic Northside chose to expand our relationship with some of the health system's most strategically important medical outpatient buildings. We look forward to working closely with Northside as we build upon Evergreen's strong track record of aligning capital and healthcare partners through the stewardship of mission-critical real estate."
Building on an Established Partnership
The Atlanta portfolio acquisition follows the Bain Capital–Evergreen partnership's earlier purchase of a two-asset portfolio in Lawrenceville, Georgia, also anchored by Northside Hospital. Together, the two firms have assembled a portfolio of institutional-quality medical outpatient buildings in select U.S. markets and have stated they are actively seeking to grow beyond their current approximately 2 million square foot footprint.
Bain Capital Real Estate, which has invested and committed over $10.7 billion of equity across multiple sectors as of September 30, 2025, focuses on assets in sectors it describes as "difficult-to-access" and underpinned by long-term demand trends.
Northside Hospital Anchor and Submarket Context
Northside Hospital leads the United States in newborn deliveries and is among Georgia's top providers of cancer care, sports medicine, cardiovascular, and surgical services, according to the announcement. The health system spans five acute-care hospitals in Atlanta, Canton, Cumming, Duluth, and Lawrenceville, providing a stable anchor tenancy across the portfolio.
The portfolio's assets are located across two submarkets within the Atlanta MSA: "Pill Hill" and Alpharetta. Both locations are characterized as high-demand, affluent submarkets by the acquiring partnership.
About the Firms
Bain Capital Real Estate is the real estate investment arm of Bain Capital, one of the world's private investment firms with approximately $219 billion of assets under management. The real estate team pursues value-add investments across sectors with long-term demand drivers.
Evergreen Medical Properties, with offices in Denver and Atlanta, is a full-service real estate operating company that invests in, leases, and manages healthcare facilities across the United States. The firm uses a collaborative approach to align interests with health systems and providers.