TUCSON, Ariz. – November 5, 2026 – Meridian, a full-service owner, operator and investor in healthcare real estate, and Harrison Street Asset Management (“Harrison Street”), a leading alternative global investment management firm with over $110 billion in assets under management through highly differentiated assets across infrastructure, real estate, and credit strategies, are pleased to announce the sale of El Dorado Medical Plaza, a 182,900-square-foot, three-story healthcare campus in Tucson, Arizona. The Class B property includes medical office space, a surgery center and hospital uses.

The property is on an 11.77-acre parcel within Tucson’s primary medical corridor, which includes Tucson Medical Center’s (“TMC”) main hospital campus and St. Joseph’s Hospital. The campus is anchored by TMC and El Dorado Springs Behavioral Health, a Lifepoint Health behavioral health hospital.

Meridian and Harrison Street acquired El Dorado Medical Plaza in March 2021 through a joint venture partnership.

“When we acquired El Dorado in 2021, the uncertainty generated by COVID-19 made for a challenging investment environment, but it also reinforced our conviction in the long-term importance of well-located healthcare real estate,” said John Pollock, CEO of Meridian. “We saw an opportunity to acquire a large healthcare campus at an attractive basis and believed that, with significant capital investment and active asset management, we could strengthen the property and create lasting value for both our tenants and our investment partners.”

Following the acquisition, Meridian and Harrison Street invested in capital improvements at the property and worked with its major tenants on multi-year lease commitments and expansions.

“Our business plan centered on two priorities: investing in the property itself and strengthening the tenant base,” Pollock continued. “Both were essential to repositioning the campus and creating a more stable healthcare asset.”

Meridian and Harrison Street undertook extensive capital improvements at the property, including modernization of the elevators; replacement of major HVAC, central plant and electrical systems; installation of a new fire alarm system and emergency backup-generation capacity; plumbing upgrades; and improvements to entrances, circulation, parking, exterior areas and wayfinding. The companies also acquired the underlying land interest, converting the property to fee-simple ownership. Tenants made additional investments in facility improvements and clinical expansions.

“Just as important as the physical improvements was strengthening the tenant base and helping our healthcare partners grow within the campus,” Pollock added. “Extending TMC’s commitment to the property and supporting the expansion of El Dorado Springs Behavioral Health were significant components of our business plan.”

Meridian, in partnership with Harrison Street, negotiated a lease extension with TMC, which now occupies approximately 78,000 square feet at the property. The campus supports a range of healthcare services, including infusion therapy, wound care, cardiac rehabilitation, primary care and inpatient behavioral healthcare.

“This transaction reflects our strategy of investing in demographically supported healthcare markets and partnering with leading health systems to own and operate high-quality properties that sustain the delivery of essential medical services,” said Ben Mohns, Global Head of Asset Management – Real Estate at Harrison Street. “Through our partnership with Meridian, we executed targeted capital improvements, strengthened relationships with leading healthcare providers and enhanced the long-term value and strategic positioning of the asset for our investors.”

“El Dorado is a good example of the type of healthcare real estate opportunity Meridian seeks out, a well-located property where thoughtful capital investment and hands-on asset management can create meaningful value,” said Pollock. “This was a complex asset with a compelling mix of healthcare uses and few directly comparable properties in the market. We were able to execute our original business plan while supporting the evolving needs of the healthcare providers operating on the campus. The investments made by both Meridian and our tenants have significantly enhanced the property and helped position it to continue serving the Tucson healthcare community.”

The buyer was Insight Medical Realty, based in Franklin, Tennessee.

Meridian and Harrison Street were represented in the transaction by JLL’s Medical Properties Group. Andrew Milne, Evan Kovac, Matt DiCesare and Sam Prendergast facilitated the sale, while John Chun and Jarrod Howard arranged financing for the buyer.

Meridian currently owns and manages healthcare properties throughout the western United States. The sale of El Dorado Medical Plaza will allow the company to redeploy capital into future healthcare and value-add real estate opportunities.

Harrison Street Asset Management possesses substantial experience within the healthcare sector. Since its inception, the firm has acquired 392 healthcare delivery properties across North America, with a total investment of approximately $9.8 billion. The firm focuses on properties with leading design, technology, and energy standards, often working in direct partnership with leading health systems to deliver on next-generation healthcare infrastructure that meets the needs of system-backed hospital tenants.