Rainier Capital Management, L.P. Announces Acquisition of Baylor Medical Plaza in Garland, TX

Rainier Capital Management, L.P. announces the acquisition of the Baylor Medical Plaza in Garland, TX on behalf of nineteen 1031 exchange investors.

(PRWEB) January 1, 2006 -- Rainier Capital Management, L.P. announces the acquisition of the Baylor Medical Plaza in Garland, TX on behalf of nineteen 1031 exchange investors. David Mott of Northmarq Capital arranged financing for the transaction through Bank of America.

The newly constructed building contains over 44,000 square feet and is anchored by a surgery center. Baylor Healthcare System and United Surgical Partners International created the entity that will occupy the surgery center. Six other medical providers occupy approximately 40% of the total building space. Rainier formed a tenant-in-common (TIC) transaction to accommodate the exchange investors in the property acquisition.

Rainier Capital Management, L.P., a Dallas based real estate investment firm, specializes in the placement of mezzanine debt and preferred equity into retail, office, multi-family, industrial and hotel properties throughout the United States. In addition, Rainier is active in the development of Tenant-In-Common (TIC) and Delaware Statutory Trust (DST) real estate syndications to accommodate private investors' 1031 exchange transactions.

For more information, please visit www.rainiercapital.com.

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