Southwest Houston Medical Office Building Portfolio – Memorial Hermann and UT Health
PRECAP’s managing principal represented a 40+ physician partnership group that owned four separate assets totaling 146,000 square feet located in Sugar Land and Richmond, Texas. Prior to marketing the portfolio, the physicians affiliated with Richmond Bone & Joint Clinic sold their practice to UT Physicians, a subsidiary of UT Health. That partnership occupied 100% of two assets in the portfolio. The other two assets consisted of a Memorial Hermann Surgical Hospital and adjacent 100% occupied medical office building. Before presenting the opportunity to investors, ownership was consulted on the negotiation of a new ten-year lease for the surgical hospital. This increased the value of the portfolio by over $3 million. The buyer of the portfolio was an emerging private equity firm that had recently started building a healthcare real estate portfolio.
146,000 sq ft
Sugar Land and Richmond, TX
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