Outpatient Projects: NexCore starts a $40 million MOB in suburban Houston

In addition, firm completes a project in Kentucky for Catholic Health Initiatives

By John B. Mugford

The future North Cypress Physician Office Building III at 10425 Huffmeister Road in Houston

CYPRESS, Texas – The COVID-19 pandemic has undoubtedly caused what is hoped to be a somewhat “short-term” disruption to the overall economy and, for that matter, the healthcare real estate (HRE) sector. But at least one HRE development firm says providers continue to plan new outpatient projects.

That firm is Denver-based NexCore Group LP, which reports that it has several projects in its pipeline while it is also pursuing a handful more through request for proposal (RFP) processes.

The company recently announced that it has started the development of one of its planned projects, an on-campus, four-story, 110,374 square foot MOB in Cypress, outside of Houston, in a joint venture (JV) partnership with a real estate venture comprising numerous physicians and physician groups on staff at the adjacent, 139-bed North Cypress Medical Center.

NexCore, which will lead the development of the project, is co-investing in the future North Cypress Physician Office Building III at 10425 Huffmeister Road with North Cypress Land Ventures POB Ltd., which includes numerous physicians and which developed the adjacent hospital in 2006. The group sold

The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE

Existing Users Log In