Brown, Gibbons, Lang & Company | Real Estate Partners is pleased to exclusively offer for sale the fee-simple interest in the Texas Spine & Joint Hospital (the “Property”). Occupied by the award-winning Texas Spine & Joint Hospital (the “Hospital” or “TSJH”), the Property consists of approximately 164,661 rentable square feet and is conveniently located in central Tyler, TX, approximately 100 miles east-southeast of Dallas.
The Property is being offered with an initial Net Operating Income of $5,816,142 and favorable fixed annual rental escalations of 2%. This is an exceptional opportunity to acquire a single-tenant-net leased Property with an esteemed multi-specialty orthopedic practice group. Furthermore, the Hospital has consistently demonstrated a strong EBITDAR rent coverage ratio (2015: 3.34x), providing a durable income stream over the 15-year lease term.
Opportunity Highlights
- Modern state-of-the-art physician-owned orthopedic hospital with a NOI of $5,816,142.
- Texas Spine & Joint Hospital is centrally located with supporting regional facilities that are strategically located in the region to provide patient-centric care and convenience.
- Physician-led surgical hospital that is aligned with highly-rated physicians offering a wide variety of clinical care and patient resources.
- Long-term NNN lease with fixed annual rent escalations.
- TSJH is owned by 39 physician partners with no single physician owning more than 5% of the practice.
- In 2015, TSJH completed over 8,000 surgical cases at the hospital and outpatient surgical center, over 18,000 pain management procedures, and treated approximately 5,700 patients at the urgent care center and Longview clinic.
- TSJH is under final contract negotiations to bring additional payors in network, resulting in an increase in reimbursement and volume.
- TSJH completed a $27 million expansion and renovation of its Hospital in 2013.
Offer Instructions
Reminder – Call for Offers Date: Wednesday, March 23, 2016
Submit Offers to: Christopher Stai | cstai@bglco.com
Contact Information
Christopher L. Stai, CPA
Managing Director
Brown Gibbons Lang | Real Estate Partners
Direct: 949.936.2665 | cstai@bglco.com
Clinton J. Parker
Managing Director
Brown Gibbons Lang | Real Estate Partners
Direct: 210.352.5832 | cparker@bglco.com
Texas Real Estate Broker LIC # 528946
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