Hot Property: Portfolio for sale in TMC ‘profit zone’

TMC PortfolioPlanned Baylor St. Luke’s Medical Center relocation creates new opportunities

Name: Texas Medical Center portfolio
City: Houston
Number of buildings: 2
Total leasable square feet: 673,395
Occupancy (total): 89.9%
Numbers of floors: 27 and 15
Years built: 1991 and 2003
Lot size: 6 acres
In-place NOI: about $6.6 million
Broker: CBRE
Brokers: Chris Bodnar, Lee Asher, Nelson Udstuen and Lew Miller

Perhaps no phrase quickens the pulse of healthcare real estate (HRE) investors more than “Texas Medical Center.” The renowned TMC is the world’s largest medical center, with 54 medicine-related institutions, including 21 hospitals and 8 specialty institutions, 8 academic and research institutions, 4 medical schools, 6 nursing schools, and schools of dentistry, public health, pharmacy and other health-related practices.

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