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 Portfolio (the “Properties” or “Portfolio), four missionbased, 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.
- Four Properties
- Net Rentable Square Footage: 118,087
- Ownership Type: Fee Simple
- Year(s) Built: 2014-2016
- Overall Occupancy: 95%
- Weighted Average Remaining Lease Term: 9.75 Years
- Year 1 NOI: $2,808,375
Matt DiCesare
Real Estate Analyst
HFF | 181 W. Madison, 39th Floor | Chicago, Illinois 60602
tel 312-300-7305 | cel 847-902-6145 | www.hfflp.com
mdicesare@hfflp.com
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