By admin on October 22, 2015
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| Holliday Fenoglio Fowler, L.P. (“HFF”) has been retained on an exclusive basis by affiliates of Hat Trick Development (the “Owner”) with respect to the disposition of the Hat Trick Development / ACI Medical Office Portfolio (the “Properties” or “Portfolio), four mission-based, newly constructed, class A medical office buildings totaling approximately 118,087 square feet that are 95% leased in the aggregate and located in Austin, Texas. Three of the Properties were completed in 2014 and 2015 and one Property will be delivered in April 2016.
The Portfolio is strategically positioned throughout the Austin Metropolitan Area, which was ranked as the #1 city for new development in the nation by Urban Land Institute in October 2015. The Portfolio is anchored by Arise Healthcare (“Arise”) and Texan Urgent Care, who collectively lease 40% of the Properties (29% and 11%, respectively). Arise, a locally based for-profit health system, offers a full range of medical services that serves the Austin community. Further, in October 2015, Surgical Care Affiliates (NASDAQ: SCAI) acquired a 51% interest in Arise, providing a reliable source of future cash flow.
All of the Properties are owned fee simple and are being offered free and clear of indebtedness.
INVESMENT HIGHLIGHTS
- Strong occupancy of 95% with no near-term rollover
- Solid hospital sponsorship with Arise Healthcare as the anchor tenant
- Arise Healthcare is 51% owned by Surgical Care Affiliates (NASDAQ: SCAI)
- Newly constructed buildings
- Strategic Austin locations
- NOI growth of approximately 25% over the next 10 years
- Weighted average remaining lease term of 9.75 years
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Holliday Fenoglio Fowler, L.P. (“HFF”) acting by and through Holliday GP Corp. a Texas licensed real estate broker. Copyright 2015 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff. |
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Posted in Breaking News
