SAN ANTONIO (June 19, 2014) – CBRE announces the sale of the Villa Rosa Medical Plaza in San Antonio, Texas. Chris Bodnar and Lee Asher, with CBRE’s U.S. Healthcare Capital Markets Group, and Scott Herbold and Todd Mills, with CBRE’s San Antonio office, represented the seller, L&B Realty Advisors, LLP.
Anchored by CHRISTUS Health (a Moody’s A1-rated tenant), the three-story, 68,402-square-foot medical office building resides on the CHRISTUS Santa Rosa Medical Center campus under a long-term ground lease. The property was constructed in 2010 and is located within the 900-acre South Texas Medical Center (STMC), the largest concentration of healthcare facilities in San Antonio with 13 hospitals, the University of Texas Health Science Center, and medical, dental and nursing schools. The asset was sold to American Healthcare Investors for an undisclosed amount.
The three-story building features a covered porte-cochere at the main entrance for patient drop-off during inclement weather and ample parking for physicians and patients with 289 total surface parking spaces, including 16 covered parking spaces. The surrounding grounds of the building feature lush green landscaping and include a lily pond with a fountain feature, providing patients a soothing area to relax.
“The Villa Rosa Medical Plaza on the CHRISTUS Santa Rosa medical center campus was very well received in the market,” said Mr. Herbold. “In addition to having on-campus credit tenancy, it is well-positioned as the only newer medical office building in the South Texas Medical Center with first generation shell space on large, efficient floorplates.”
CBRE’s U.S. Healthcare Capital Markets Group specializes in providing healthcare real estate investors with acquisition, disposition and debt & equity recapitalization strategies; assisting healthcare providers with strategic capital planning (including monetization of non-core real estate); and advising health systems and physician groups in the developer selection process.
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 L&B Realty Advisors, LLP
L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor. L&B provides real estate investment management services to institutional investors and high-net-worth individuals. With $6.4 billion under management and over 49 years of experience, L&B has a proven track record of successfully acquiring, managing, and disposing real estate on behalf of their clients. http://www.lbrealty.com
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