Stage Equity Partners Acquires 24,075 sf Texas Children’s Pediatrics Anchored Medical Office Building in Houston, Tex.
HOUSTON (February 2, 2015) – Chicago-based healthcare real estate investment company Stage Equity Partners LLC (“Stage”) announced the recent acquisition of a 24,075 square foot multi-tenant medical office building anchored by Texas Children’s Hospital in Houston, Texas. According to Stage Principal Russell Brenner, the single-story, Class A building was acquired in an off-market transaction from a local investment group.
The property, located at 5650 East Sam Houston Parkway (Beltway 8) in east Houston, is 100% leased by seven established medical practices that are complementary and synergistic to each other. These include anchor tenant Texas Children’s Pediatrics (Texas Children’s Hospital), Bayshore Medical Center (HCA), Houston Eye Associates and Diagnostic Radiology of Texas. The property is within 20 minutes of Texas Children’s Hospital’s main campus, as well as other hospitals, for those patients requiring acute procedures. Texas Children’s Pediatrics is one of the nation’s largest general pediatric practices with 50 locations. It is a wholly-owned subsidiary of Texas Children’s Hospital, the top-rated pediatric hospital in Texas and one of the top children’s hospitals in the U.S.
“The location is ideal,” notes Stage Principal Brian Howard. “It is situated in a densely populated, well-insured area just east of downtown Houston, and it serves as the primary pediatric practice for the community. It’s a great addition to our portfolio.”
According to Mr. Brenner, “Healthcare tenants are increasingly selecting single-story medical office buildings in retail settings, as they generally offer better patient convenience, access and way-finding, accessible parking, and lower overall operating expenses due to such as factors as lack of elevators and interior common areas,” He adds that in this property, each tenant has a separate entrance, direct access to patient and covered staff parking and distinct signage.
Stage Equity Partners LLC (www.stageequity.com) is a privately held, healthcare real estate investment company headquartered in Chicago (Skokie, Ill). Stage acquires, develops and manages medical office buildings, both on its own and for its investor partners, in top markets around the U.S. Its current portfolio contains assets in six states with an aggregate value of over $100 million. Stage targets acquisitions in $5 million to $25 million range, in strong, established demographic areas in close proximity to dominant hospital systems or other significant demand drivers.
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