Waco, Texas, September 30, 2015 – Central Texas Medical Investments, Ltd., a physician-owned limited partnership, through a joint disposition transferred ownership of two Medical Office Buildings in Waco, Texas on September 30, 2015. These Class A assets are described as 601 West Highway Six and 6600 Fish Pond known as the Six West and Fish Pond Medical Office Buildings which were built in 2006 and 2000 and are 107,744 and 54,901 square feet respectively. Six West is 100% occupied while Fish Pond is 94% occupied, both having strong local and regional Physician and Hospital tenancy.
The new owner is HP Waco Six Medical, LLC, who is affiliated with one the largest and best known developers of medical office buildings in the country and is quickly amassing a large portfolio of existing properties as well.
Triliji Group, Waco served as the listing broker and advisor to Central Texas Medical Investments, Ltd. while Medical Real Estate, Inc., with cooperation from Stealth Realty Advisors, LLC, Houston were instrumental in procuring HP Waco. This was a complex transaction which involved negotiation and restructure of several of the tenant leases. Triliji Group was instrumental in these negotiations with assistance from Medical Real Estate, Inc. This resulted in a final transfer within 1% of the actual asking price which is not being disclosed.
About Triliji Group
Triliji Group has stood as one of Texas’ most respected and diversified privately held real estate brokerage, development and property management firms for over 30 years. Triliji Group developments have consistently set the standard of Class “A” facilities accommodating students, families, healthcare and business professionals. Involvements include all aspects of development from major renovations, build to suit and ground up construction. Triliji Group is located in Waco, Texas with Jimmy Banks as partner and Broker. Legends Crossing, www.legendscrossing.com, The Colonnade and The Ridge Office Park are some of Triliji’s major developments. www.trilijigroup.com
About Medical Real Estate Inc.
Medical Real Estate, Inc. is a national real estate company specializing in healthcare real estate. It is led by Stan Young, its President. Stan has developed, owned, managed, leased, bought and sold healthcare real estate having represented major health systems, developers and investors since 1989. Since inception Medical Real Estate, Inc. has developed select on-campus MOBs for major healthcare providers in multiple states. In addition MRE works closely to develop acquisition and disposition strategies for its healthcare clients. www.medicalrealestateinc.com
About Stealth Realty Advisors LLC
Stealth Realty Advisors, LLC, a member of The TICI Group of Companies, is actively involved in capital markets, acquisition, disposition and tenant representation to major public and privately held corporations across the United States. The emphasis at Stealth is to be the conduit to other real estate companies, (service providers, investors and corporate real estate and facility, finance executives) in solving complex real estate requirements.www.ticigroup.com
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