Property type: Medical office | Sale date: June 2, 2016 | Building size: 128,819 s.f.
Occupancy: 91%
The JLL Healthcare Capital Markets Group is pleased to announce the sale of Imperial Medical Center, a 128,819 squarefoot, Class A medical office building, located in the affluent Sugar Land submarket of Houston, Texas. Steve Leathers of the JLL Healthcare Capital Markets Group served as the seller’s exclusive advisor. The buyer was a jointventure between Pisula Development Company and Harrison Street Real Estate Capital.
The sale included the Class A medical office building which is approximately 89% occupied by 29 tenants. Anchor tenants include the Hospital for Surgical Excellence of OakBend Health System and Memorial Hermann Health System. The Property was substantially renovated from 2010 through 2015 and benefits from a prominent offcampus location within five miles of three acute care hospitals in one of the largest and fastest growing metropolitan areas in the nation.
For more information on this sale, or if we can help with your healthcare real estate needs, please contact us.
Steve Leathers
Senior Vice President
+1 212 812 5867
steve.leathers@am.jll.com
Mindy Berman
Managing Director
+1 617 316 6539
mindy.berman@am.jll.com
Daniel Turley
Senior Vice President
+1 617 316 6521
daniel.turley@am.jll.com
HFF secures $39.6 million refinancing for 9-property healthcare portfolio in Dallas/Fort Worth and Houston
DALLAS, TX – DRAFT – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $39.6 million refinancing for a nine-property healthcare portfolio totaling 234,000 square feet in Dallas/Fort Worth and Houston, Texas.
Working on behalf of the borrower, Pinecroft Core Holdings, HFF placed the 10-year, fixed-rate loan with Voya. The nine assets are owned across a number of investors.
The portfolio consists of medical office buildings and emergency centers in high-growth areas of Dallas/Fort Worth and Houston. The properties were built between 2004 and 2015 and are north of 90 percent leased.
The HFF debt placement team representing the borrower was led by managing director Steven Heldenfels and associate director Jeremy Sain.
About Pinecroft Core Holdings
Pinecroft Core Holdings, LLC is an affiliate of Pisula Development Company and RRC Medical Real Estate, LLC. RRC is a full service, commercial real estate firm located in The Woodlands, a suburb of Houston, Texas. RRC provides property, asset and facilities management services for just under 1.1 million square feet of commercial real estate. Through its Pinecroft Realty, LLC subsidiary, RRC provides leasing and brokerage services. For more information please visit PinecroftRealty.com
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
CONTACTS:
JEREMY SAIN
HFF Associate Director
(214) 265-0880
jsain@hfflp.com
KRISTEN MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com