Behavioral Health Hospital Located in the South Texas Medical Center
The Offering
CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the Nix Behavioral Health Center of San Antonio for purchase. The property is located within the South Texas Medical Center, a 900 acre district consisting of forty-five medically related institutions that include thirteen acute care hospitals, separate medical, dental and nursing schools, five higher educational institutions, and five specialty institutions.
The Nix Behavioral Health Center of San Antonio provides inpatient behavioral health services for adults and children and boasts a 31-bed child and adolescent unit, a 26-bed adult unit and 24-hour nursing care. The parent company, Nix Hospitals System, LLC (dba Nix Health Care System), expanded its behavioral health presence in San Antonio with the opening of this facility in 2013. Originally constructed in 1972, the 61,358 square foot facility has experienced significant capital upgrades and improvements totaling approximately $8 million. Approximately $400,000 of capital expenditures were made by the Landlord in addition to the $1.2 million of tenant improvement allowance the tenant received upon entering the facility in 2013. Nix Health has also invested approximately $6.4 million of their own capital into the facility for further upgrades including roof, parking, elevators, HVAC, technology and FF&E. Nix Health has been serving San Antonio and South Texas for over 85-years with 12 locations and revenues exceeding $125 million per year.
Investment Highlights
- Strong National Operator
- Renovated Asset within Preferred Asset Class
- NNN Lease Through 2028
- Stable Cash Flow
- Large Patient Referral Source
- Significant Capital Investment by Tenant
- Excellent Market Demographics
- Appealing Aging Trends
Offering Information
Offering Price: Best Offer
Total Size: 61,358 RSF
Year Built: 1972
Renovation: 2013-2014
Percentage Leased: 100%
Lease Expires: 7/31/2028
In-Place NOI: $963,117
CBRE Contacts
CBRE U.S. Healthcare Capital Markets Group
Chris Bodnar
+1 303 628 1711
chris.bodnar@cbre.com
Lee Asher
+1 404 504 5965
lee.asher@cbre.com
CBRE Net Leased Property Group
Brian Pfohl
+1 404 504 7893
brian.pfohl@cbre.com
Chris Bosworth
+1 404 923 1486
chris.bosworth@cbre.com
CBRE San Antonio Market Expert
Todd Mills
+1 512 499 4906
todd.mills@cbre.com
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