News Release: IRA Capital Acquires Medical Office Portfolio In San Antonio, Tx

July 26, 2021

IRA Capital (“IRA”) is pleased to announce the acquisition of a portfolio of three medical office buildings totaling more than 55,000 square feet located in San Antonio, TX. The buildings are 100% leased to Gastroenterology Consultants of San Antonio (“GCSA”) on a NNN basis with existing long term leases in place, providing investors with a stable stream of cash flow. GCSA is a wholly-owned subsidiary of GI Alliance, the largest physician-led Gastroenterology network in the US – operating 150 centers across 8 states with over 400 GI physicians. The facilities were built-to-suit for GCSA and are strategically located near San Antonio’s major healthcare centers – South Texas Medical Center, Stone Oak Medical Center, and Northeast Medical Center. The properties house GCSA’s endoscopy centers, which feature highly specialized operating rooms, as well as ancillary clinic space, providing patients with access to convenient care and outpatient procedures under one roof.

Founded in 1978, GCSA is one of the largest private GI practices in the state of Texas and operates its endoscopy centers in partnership with United Surgical Partners International. The practice is known for its best-in-class care, providing state-of-the-art procedures including endoscopic ultrasound, Bravo® ph monitoring, SmartPill® motility evaluation, wireless capsule endoscopy, and high-resolution impedance manometry. Additionally, the practice exceeds the national averages for GI indicators and works closely with other specialties to create an individualized treatment plan for its patients.

IRA’s surgery center strategy has focused on multi-specialty and single-specialty centers throughout the county. Gastroenterology-focused facilities have been among the top on IRA’s list as they’ve continue to acquire numerous endoscopy centers throughout the country. Amer Kasm, a co-founder and partner at IRA Capital, noted that this transaction represents IRA first acquisition in San Antonio, and that IRA intends to continue growing its presence in the market. “We’re thrilled to work with GCSA, GI Alliance, and USPI on this project and hope to continue building the relationship with all three groups in the future,” said Kasm.

About IRA Capital
IRA Capital is a Southern-California based private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices, and individuals. IRA invests in commercial real estate assets throughout the United States, with a primary focus on the medical/healthcare real estate sector. Headquartered in Irvine California, IRA has acquired over six million square feet of property across 27 states, valued in excess of $2.5 Billion.

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