SAN ANTONIO (March 24, 2014) – CBRE announces the sale of Christus Santa Rosa Physicians’ Ambulatory Surgical Center (CSR-PASC) in New Braunfels, Texas.
Scott Herbold, with CBRE’s Investment Properties group, represented the sellers in the transaction. Austin-based real estate private equity firm Long View Equity Partners purchased the center for an undisclosed price.
The 18,855-square-foot outpatient facility is located at 1738 East Common Street, equidistant from the existing Christus Santa Rosa Hospital and Tenet Healthcare’s new Resolute Health Hospital slated for a mid-year 2014 opening. The single-tenant asset is 100% occupied by a partnership between Christus Santa Rosa and multiple physicians.
“Investment grade, net leased ambulatory surgery centers (ASCs) are in very high demand by all investor profiles,” said Mr. Herbold. “The specialists that occupy ASCs are among the most profitable and are typically less likely to be acquired by hospital systems. Furthermore, ASCs continue to prove they are a low-cost high-quality healthcare option.“
“We are excited to add the Christus Santa Rosa Physicians’ ASC to our growing real estate portfolio,” added Long View Principal Todd Caven. “This is a perfect fit for our healthcare fund and fantastic opportunity to expand our presence in the growing Texas healthcare market.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About Long View Equity Partners
Long View Equity Partners is a real estate private equity firm based in Austin, Texas. Long View acquires, develops and manages a diversified portfolio of income-producing properties located primarily in major metropolitan areas within the state of Texas. Long View recently launched the newest of its three private equity funds – the Long View Equity Healthcare Opportunity Fund. For more information about Long View Equity Partners, please visit: www.longviewequity.com.
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