Bedroom and Secondary Markets with High Demand
Our strategy is at the forefront of how the delivery of healthcare services is evolving. The trend toward decentralized outpatient care provides opportunities to capitalize on high-yield investments, particularly in secondary markets and bedroom communities.
Heart and Vascular Institute of Florida
This 18,152-square-foot multi-tenant property is 82 percent anchored by Orlando Health (Moody’s A2) and Orlando Health affiliates. We acquired this asset on March 1, 2017 for $5.225mm. The Orlando MSA is the 23rd-largest and the 12th-fastest-growing MSA in the country which fits well into our strategy of targeting secondary markets with high demographic upside potential.
Central Texas Rehabilitation Hospital
The Central Texas Rehabilitation Hospital is a 50-bed inpatient rehabilitation facility tenanted by a joint venture between Kindred Healthcare (Moody’s B2) and the Seton Healthcare Family, the largest health system in Austin. We acquired the asset on September 25, 2017 for $40.65mm. The Austin MSA is the 29th-largest and the 3rd-fastest-growing MSA in the country. Which fits well within our strategy of targeting secondary markets with high demographic upside potential.
Texas Digestive Disease Consultants
This property is an 18,084-square-foot medical office building 100 percent leased to The GI Alliance (TGIA), a strategic partnership formed in 2018 between Texas Digestive Disease Consultants (TDDC), the largest gastroenterology practice in Texas, and Waud Capital Partners, a Chicago-based private equity firm with more than $2 billion in total capital commitments. We acquired this property on November 10, 2017 for $6.25mm. The property, one of TDDC’s 70+ locations across Texas and Louisiana, is located 11 miles outside of downtown Fort Worth and is an excellent example of our ability to find profitable assets in regions with decentralized healthcare.