Strategic Medical Office Acquisition in Waukesha, Wisconsin
Waukesha Dental Associates is a 21,500-square-foot medical office building located in Waukesha, Wisconsin. Acquired in June 2024 through a joint investment between General Capital and Dr. Tom Manos, owner of Dental Associates, the property represents a strategic addition to General Capital's commercial real estate portfolio. Originally constructed in 2016, the modern facility is conveniently located near a major highway and downtown Waukesha within a growing commercial market. The building is fully leased to Dental Associates, an established regional dental care provider operating 15 locations throughout eastern Wisconsin with more than 800 employees. The Waukesha facility features 53 dental chairs and offers comprehensive services, including orthodontics, pediatric dentistry, oral surgery, and general dental care.
The acquisition was structured as a 50/50 tenancy-in-common partnership, providing both owners with flexibility in long-term property decisions. Although approximately seven years remained on the existing lease during due diligence, General Capital and Dental Associates negotiated an extension at closing, strengthening the property's long-term income stability and investment value. General Capital Management serves as the property's manager, overseeing operations and supporting the tenant's continued use of the facility. The transaction demonstrates General Capital's ability to structure collaborative real estate investments that align property ownership with established operating businesses while creating long-term value.
Key Themes
- Strategic medical office acquisition expanding General Capital's healthcare real estate portfolio.
- 50/50 ownership partnership aligning property investment with an established healthcare provider.
- Long-term lease strategy strengthening tenant stability and investment value.
- Modern healthcare facility supporting comprehensive dental services and specialty care.
- Active property management supporting long-term operations and asset performance.
Results
- 21,500 SF medical office building acquired in June 2024.
- 100% occupancy with Dental Associates as the sole tenant.
- 53 dental chairs supporting general and specialized dental services.
- Lease extension negotiated at closing, strengthening long-term investment stability.
- 50/50 tenancy-in-common established with General Capital Management overseeing property operations.