Capital Markets | Healthcare & Life Sciences
Just Closed
New Construction Medical Facility Connected to the Westover Hills Baptist Hospital (Moody’s: B1)
CBRE
Transaction Highlights
Date Closed: 7/11/24
Size: 84,083
Occupancy: 89%
Westover Hills MOB | 3011 W Loop 1604 N | San Antonio, TX 78251
CBRE U.S. Healthcare Capital Markets is pleased to announce the closing of Westover Hills MOB (the “Property”), located in San Antonio, Texas. Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof, Trent Jemmett, and Jesse Greshin partnered with CBRE DSF’s Frank Piasta and CBRE San Antonio’s Scott Herbold to act as the seller’s exclusive advisors.
The Property is located in Westover Hills, one of the fastest growing suburbs of San Antonio. Completed in April 2024, the Westover Hills MOB is directly connected to Tenet Health’s brand new 100-bed Westover Hills Baptist Hospital, an expansion hospital in response to pent up demand. This new construction, Class A, 84,083 BOMA-square-foot medical outpatient building is anchored by Baptist Health System, a subsidiary of Tenet Health (Moody’s: B1). Tenet Health is a leading health system that operates more than 475 ambulatory surgery centers, 61 hospitals and 110 outpatient centers. Within a 3-mile radius of the Property the population is projected to grow by 11.3% over the next 5 years, more than 7.5x the national average and 1.6x the San Antonio MSA.
This on-campus facility is 89% pre-leased to Baptist Health System, a subsidiary of Tenet Health (Moody’s: B1). The Property will feature a comprehensive imaging center and high margin specialties including cardiac, surgical, women’s health, breast cancer and orthopedics.
For more information, or if we can help with your healthcare real estate holdings, please contact us.
For more information, please contact:
Chris Bodnar
Vice Chairman and Managing Director
Investment Properties
+1 720 635 2653
Brannan Knott
Executive Vice President
Investment Properties
+1 443 983 6039
Zack Holderman
Senior Vice President
Debt & Structured Finance
+1 858 337 9412
Cole Reethof
Vice President
Investment Properties
+1 404 504 7864
Trent Jemmett
Senior Director
Investment Properties
+1 858 646 4740
Jesse Greshin
Vice President
Debt & Structured Finance
+1 860 808 4810
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