Houston & Salt Lake City – January 28, 2026 – CBRE is pleased to announce that it facilitated the sale of the HCA Surgery Center Portfolio, a portfolio totaling 65,054 square feet in two ambulatory surgery centers (ASC) and medical outpatient buildings (MOB) located at 21814 Katy Freeway in Katy, Texas, and 640 West 800 North in Orem, Utah, to Montecito Medical Real Estate.
Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Brandy Spinks of CBRE’s Houston Leasing team and Marty Plunkett of CBRE’s Salt Lake City Leasing team to act as the exclusive advisors to the seller, NexCore Group.
The HCA Surgery Center Portfolio is a newly delivered, trophy ASC portfolio of two assets developed by NexCore Group, a national leader in healthcare real estate development, and anchored by investment grade tenant, HCA Healthcare’s (NYSE: HCA | Moody’s: Baa3) ambulatory surgery centers that represent 86% of the overall NRA under new 15-year leases. Both assets are fully leased with an average WALT of 13.8 years. Delivered in 2025, the properties are well positioned in rapidly expanding healthcare markets and will continue to be managed by NexCore on behalf of the purchaser. The HCA Katy MOB & ASC is a Class A facility located in the high growth area of Katy, Texas in the Houston MSA with visibility and access from Katy Freeway (225,000 VPD), the main thoroughfare in the submarket. The remaining tenant roster includes clinical space for HCA, GI Alliance Management that majority owned by Cardinal Health (Moody’s: Baa2), and Houston Regional Gastroenterology Institute.
The HCA Orem facility, known as HCA Timpanogos ASC, is a state-of-the-art ASC located directly on the campus of Timpanogos Regional Hospital, which is owned and operated by HCA Healthcare. The ASC is leased to Central Utah Surgical Center and features 10 operating rooms, which ranks in the top 5% of the largest ASCs in the country, plus four procedure rooms and 32 recovery bays.
“This stabilized portfolio offers 14 years of WALT with 90% of its tenancy occupied by investment grade HCA Healthcare,” said Chris Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. “The strategic location in two of the nation’s fastest growing markets for healthcare assets, coupled with the extremely durable cash flow with the first lease expiration not occurring until 2035.”
The purchaser, Montecito Medical Real Estate, was founded in 2006 and has grown to become one of the largest privately held acquirers of medical real estate in the country. With headquarters in Nashville, Tennessee, Montecito Medical has acquired medical outpatient properties in 40 states valued at more than $6.5 billion. For more information, please visit: www.montecitomac.com.
The seller, NexCore Group, is a national, diversified healthcare real estate investment and development firm headquartered in Denver, Colorado. The company delivers purpose-built, sustainable spaces spanning the full range of healthcare real estate: medical, senior living and science & technology. Whether designing advanced medical facilities, high-quality senior communities, or innovative labs and research environments, NexCore applies a strategy-led, data-driven approach to help our partners thrive.
Since its founding in 2004, NexCore has developed and acquired approximately 18 million square feet and completed over $7.0 billion in healthcare real estate transactions — building trust and delivering results in 30 states. For more information, please visit: www.nexcoregroup.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest
commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000
employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients
through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building
Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure
services); Project Management (program management, project management, cost consulting); Real Estate Investments
(investment management, development). Please visit our website at www.cbre.com
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