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News Release: New Era Partners / Behavioral Hospital Lubbock TX

News Release

For Immediate Release 9/28/2021

New Era Partners Breaks Ground on New Behavioral Hospital in Lubbock, Texas

Oceans Healthcare Will Operate the Behavioral Hospital and Focus on Adult and Geriatric Mental Health Services

Grapevine, TX – New Era Partners announced today that construction has commenced in Lubbock, Texas on a 32-bed, 25,878 SF behavioral hospital. The hospital will be operated by Oceans Healthcare, a nationally recognized provider of behavioral health services to adults and seniors. The behavioral health hospital will provide quality outpatient and inpatient services that are primarily focused on adult and geriatric patients.

This will be the 8th behavioral hospital that New Era Partners has either developed or acquired on behalf of Oceans Healthcare. New Era Partners has developed a best of class approach to development, financing, acquisition, capital sourcing and strategic planning to address the growing need for mental health services. The Oceans Behavioral Hospital Lubbock will provide much needed services to the growing Lubbock community and larger region of the Texas Panhandle and Eastern New Mexico.

New Era Partners has engaged Satterfield & Pontikes Construction, Inc. as the General Contractor for the project and Guide Architects is the Design team for the hospital. Financing for the project is provided by Amegy Bank of Texas. Completion of the behavioral hospital is anticipated to be 3Q 2022.

About New Era Companies

New Era is a vertically integrated healthcare real estate development and capital investment company. The firm has a strong track record of successful, high-quality medical developments and strategic acquisitions that enhance the communities they serve. Our multidisciplinary approach and seasoned management team deliver consistent results for our investors and clients across the country. For more information about New Era Companies, visit www.neweracompanies.com

About Oceans Healthcare

As a nationally recognized provider of behavioral health services to older adults and seniors, we are committed to caring for this special population with dignity for patients and their families; with keen awareness of the importance of treating the whole person; with focus on progressive behavioral therapies; and with respect for our employees, physicians, healthcare providers and the communities we serve. For more information about Oceans Healthcare, visit www.oceanshealthcare.

Contact: Michael Arvin, Executive Vice President

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