Med Office Daily - December 19 - Cypress West & TPG close Utah MOB

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NEWS ROUNDUP

ACQUISITION: Cypress West and TPG Angelo Gordon Acquire Renaissance Medical Center. A joint venture between Cypress West Partners and TPG Angelo Gordon has acquired the 112,192 SF Renaissance Medical Center at 1551 South Renaissance Towne Drive in Bountiful, Utah. The property is anchored by Mountain West Surgical Center, owned by HCA Healthcare, Inc, and features eight additional medical specialties. Newmark’s Healthcare Capital Markets Group represented the buyers in the transaction. Cypress West Partners deal team included acquisition pros Samuel Clark and Ed Hernandez and CEO Chris Cumella. Frank Virga led the transaction team at TPG Angelo Gordon.

DEVELOPMENT: NexCore Breaks Ground on New Medical Office Development in Katy, TX. Anchored by an ambulatory surgery center, the two-story, 24,000 SF project is a joint venture between Surgery Ventures, powered by HCA Healthcare, and a group of local physicians. The project will include a 12,800 SF surgery center featuring one operating room and four procedure rooms on the first floor. The project team included general contractor Arch-Con Corporation and architect BSA LifeStructures. The NexCore deal team was led by Jim Hartmann (EVP) and Jarrod Daddis (President). WinTrust Bank provided financing.

LEASE SIGNED: JLL leases six-story MOB in Houston to Prenuvo. JLL has facilitated the lease of 3720 Westheimer Rd, a 52,342 SF medical office building in Houston, Texas. The JLL deal team, which included Chris Wadley and Madeline Cleary represented the landlord, Ancorian.

FINANCING: JLL closes $55.2M for a portfolio of nine MOBs. JLL Capital Markets has arranged $55.2 million in financing for a nine-property, 297,500 SF medical portfolio located in Burlington, Durham, and Greensboro, North Carolina. The portfolio is 99% leased to leading healthcare systems and dominant independent physician practices, with credit tenants representing 73% of in-place income. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Travis Anderson and Senior Director Anthony Sardo.

READ: Investors expect Healthcare real estate to outpace other sectors with increased capital inflows.

MED OFFICE PROPERTIES FOR SALE

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8,238 SF Building (1 Story) | Exceptional Demographics | 6% Cap Rate | 0.90 AC

8,397 SF Medical Office Building (2 Stories) | 100% Leased | CL - Limited Commercial Zoning | 15 Parking Spaces | 0.32 AC

14,564 SF | Three Points of Access (Rt 13, Rt 54, and Woodlawn Avenue) | Access to (Rt 54) and Sussex Hwy (Rt 13) | 1.74 AC

MED OFFICE PROPERTIES FOR LEASE

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1,228-2,465 SF | 9,300 SF Building (Single-Story) | Full Build-Out | 56 Surface Parking Spaces | Easy Access | Close to Freeway

1,500-6,280 SF | 2 Buildings Totaling 75,663 SF | RR - Regional Retail Zoning | Access to Hwy 67 and I-35E | Abundant Parking Available

2,500 SF Building | Fully Renovated for Dentist or Med Spa | Newer HVAC | Ample Power | Dental Equipment Available | 3,485 SF Lot Size

ONE MORE THING

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