The portfolio comprises The Center for Cancer & Blood Disorders and Baylor Health Center at Magnolia Greens in Dallas-Fort Worth and Cedar Park Medical Center in Austin. (Photo courtesy of HFF)
SAN DIEGO, CA – August 15, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a three-property, Class A medical office portfolio totaling 137,686 square feet in Dallas-Fort Worth and Austin, Texas.
The HFF team marketed the property on behalf of the seller, IRA Capital, LLC, and procured the buyer, a publicly traded healthcare REIT.
The portfolio comprises The Center for Cancer & Blood Disorders and Baylor Health Center at Magnolia Greens in Dallas-Fort Worth and Cedar Park Medical Center in Austin. The fully leased buildings boast a mix of best-in-class local, regional and national tenants backed by major health systems and top-rated healthcare providers such as Baylor Scott & White Health, Surgical Care Affiliates and The Center for Cancer & Blood Disorders. Services offered within the portfolio include cancer treatment, radiation oncology, medical oncology, cyberknife, orthopedic surgery, gastrointestinal endoscopy procedures, pain and spine treatments, primary care and family medicine.
The HFF investment sales team included managing director Evan Kovac, director Andrew Milne and senior associate Trent Jemmett along with managing director Todd Savage and senior director Kelsey Roop as the local advisors. Efforts were supported by HFF’s national medical office building team comprising managing director Phil Mahler, senior director Ben Appel, director Anthony Frogameni and analyst Wesley Hightower. Senior managing director Kevin MacKenzie and senior director John Chun also supported the process with debt and equity placement guidance.
“The portfolio represented the rare opportunity to acquire institutional-quality core medical office buildings leased long-term to several of the most highly respected tenants in the industry,” Kovac said. “The new owner has the ability to build a long-term relationship with these established tenants as they continue to expand their footprints within two of the nation’s top real estate markets.”
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
About IRA Capital, LLC
IRA Capital is a privately held real estate investment and management company based in Irvine, California, with a diverse portfolio of commercial properties and 4.2 million square feet of real estate under management across the United States. To learn more, visit www.iracapital.com.
IRA’s principals have diverse backgrounds with more than 80 years of combined experience in all facets of commercial real estate. The principals have completed transactions valued in excess of $5 billion across a range of asset classes and geographic markets in the U.S. IRA Capital is headquartered in Irvine, California.
About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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CONTACTS:
EVAN KOVAC
HFF Managing Director
(858) 812-2365
ekovac@hfflp.com
TODD SAVAGE
HFF Managing Director
(469) 232-1930
tsavage@hfflp.com
KELSEY ROOP
HFF Senior Director
(512) 532-1900
kroop@hfflp.com
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
ohennessey@hfflp.com
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