Transaction Includes 100% Leased MOBs in the City’s Three Largest Medical Centers
(JULY 21, 2021 – SAN ANTONIO) – Transwestern Real Estate Services (TRS) announces its Healthcare Advisory Services team has brokered the sale of Gastroenterology Consultants of San Antonio’s Ambulatory Surgery Center and three of its medical office buildings, totaling 55,457 square feet. The three-building portfolio consists of South Texas Medical Center, Stone Oak Medical Center, and Northeast Medical Center. Transwestern Executive Managing Director Alan Grilliette and Executive Vice President Justin Brasell arranged the sale on behalf of Gastroenterology Consultants of San Antonio (GCSA) to IRA Capital for an undisclosed price.
“This transaction is unique because it originated during the COVID-19 pandemic,” said Grilliette. “We weren’t sure how the market would respond, but we had a very robust response from the investment community.”
The GCSA portfolio includes three properties: the 24,230-square-foot Medical Center location at 5223 Hamilton Wolfe Road, the 12,789-square-foot Stone Oak location at 855 Proton Road and the 18,438-square-foot Northeast location at 12850 Toepperwein Road. Each property is 100% leased to a single tenant with long-term leases in place. The properties are high-finished, constructed with quality materials and are designed to maximize operational efficiencies and drive high patient volume. Each facility includes multiple operating rooms, physician offices and exam rooms.
We are seeing more investor interest in the medical sector than any other, and the long-term leases were attractive,” said Brasell. “GCSA is the premier gastroenterology practice in Texas.”
The portfolio is strategically located within close proximity to acute care hospitals, and San Antonio’s Regional Medical Center which serves a large area from South Texas to Rio Grande Valley, serving local and international residents that regularly travel to San Antonio from Monterrey, Guadalajara, and Mexico City.
The Transwestern Healthcare Advisory Services team is the country’s largest healthcare real estate team, operating from 20 cities and including more than 175 members. The team provides a full range of services, including project management and construction services, property management, leasing, tenant advisory, and investment for hospitals, biomedical and healthcare networks, physicians and investors.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
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Media Contact:
Yesenia Marili Smith
210.563.7070
yesenia.marili@transwestern.com
twmediarelations@transwestern.com
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