St Augustine Sale Announcement

ESJ Capital Partners Announces Successful $71.5M Sale of the University of St. Augustine for Health Sciences Campus
A landmark full-cycle exit, delivered on time, under budget, and generating exceptional returns for investors.

In April 2023, ESJ Capital Partners acquired the 14.52-acre former St. Augustine Record newspaper headquarters at 1 News Place for $8 million. Working in close partnership with the University of St. Augustine for Health Sciences (USAHS), one of the country's foremost graduate institutions specializing in health sciences education, ESJ transformed the site into a world-class, state-of-the-art educational campus.

The completed campus comprises two buildings totaling over 117,000 square feet:

• A renovated 38,024 sq ft two-story structure, upgraded to accommodate immersive learning environments for physical therapy, occupational therapy, speech-language pathology, and nursing programs.
• A newly constructed 79,662 sq ft Center for Innovative Clinical Practice, featuring multiple simulation labs, a 14-bed hospital setting, complex hospital rooms, assessment rooms, a daily living lab, and cadaver and anatomy labs, completed in May 2025.

The campus was purpose-built to train the next generation of healthcare professionals, and was delivered on time and under budget, a testament to ESJ's disciplined execution and hands-on asset management approach.

This transaction exemplifies ESJ's core investment thesis: identifying high-conviction, build-to-suit opportunities in the education and healthcare infrastructure sectors across the Southeast United States. By partnering with a nationally recognized academic institution and delivering a purpose-built facility that serves a critical community need, ESJ achieved both strong financial performance and lasting social impact.

The project was financed in partnership with ABANCA USA and Banesco USA, with construction managed by Stevens Construction, Inc. and architecture by Gensler. The investment was also supported by Select Alternative Investments.

The sale structure, a sale-leaseback arrangement facilitated through Net Lease Capital Advisors, ensures continuity for the University of St. Augustine for Health Sciences, with campus operations, students, faculty, and staff entirely unaffected by the ownership transition.

ESJ Capital Partners extends its sincere gratitude to all partners who contributed to the success of this project:

• ABANCA USA — Financing Partner
• Banesco USA — Financing Partner
• Select Alternative Investments — Investment Partner
• Stevens Construction, Inc. — General Contractor
• Gensler — Architecture & Design
• University of St. Augustine for Health Sciences — Tenant

This successful exit reinforces ESJ Capital Partners' position as a leading real estate investment platform in the Southeast United States. With a growing portfolio spanning multifamily, educational infrastructure, and office repositioning, ESJ continues to deliver differentiated, high-performance opportunities for its global network of investors.

Momentum is building, and ESJ is just getting started.

ESJ Capital Partners is a management-owned real estate investment firm founded in 2008, specializing in multifamily, educational infrastructure, and office repositioning across the Southeast United States. With offices in Miami (Aventura) and Luxembourg, ESJ connects global capital to carefully vetted U.S. opportunities through funds, club deals, and direct investments, built on disciplined criteria and hands-on asset management. ESJ has overseen more than $1.2 billion in assets across 69+ projects.

• Jax Daily Record — University of St. Augustine for Health Sciences campus sold for $71.53 million
• St. Augustine Record — University of St. Augustine for Health Sciences campus sold for $71M
• LinkedIn — Arnaud Sitbon's announcement post