Company Overview

Development Philosophy

Transaction Capability

Principals

References

COMPANY

Transaction Capability

  • Medical Real Estate, Inc. (MRE) has done over $300 million in sale and sale leaseback Medical Office Building (MOB) transactions for major Healthcare providers. Many of these transactions were credit enhanced by a sponsoring hospital or practice group, others were multi-tenant MOBs or back office facilities.

  • MRE has done site analysis, feasibility and land acquisition projects for major healthcare providers.

  • MRE has considerable experience at lease vs. own analysis to determine the best option for the client.

  • MRE has represented Healthcare providers in space need analysis, project economic analysis, developer selection, architectural selection and in some instances acted as the developer. MRE provides leasing services for the majority of these projects.

  • MRE has leased over 1,000,000 square feet of MOB space including a 125,000 square foot MOB leased for Healthcare Realty Trust, Nashville, Tennessee. This project was in Loudon County, Virginia on the Loudon Community Hospital campus and leasing was accomplished start to finish in 8 weeks, prior to the start of construction.

  • MRE has assisted in the formation of physician-limited partnerships to acquire or develop and own MOBs, surgery centers and other similar facilities.

  • MRE acquired and converted a 40,000 square foot ACLF in Houston into a major rehabilitation center. Leased and ultimately sold to the tenant.

  • MRE has sold over $20 million of closed hospitals which were converted to other uses including assisted living. They are:

    • Sarasota Doctors Hospital, Sarasota, FL, 250 beds

    • Danforth Hospital, Texas City, TX, 130 beds

    • Sam Houston Hospital, Houston, TX, 256 beds

    • St. Joseph Hospital, Ft. Worth TX, 350 beds

    • Charter Hospital, Chicago, IL, 130 beds

    • North Loop Hospital, Houston, TX 130 beds

  • MRE assisted Prucare through Cushman Realty to lease and divest Prucare of 904,000 square feet (42 clinic facilities) located in Texas, Oklahoma, Georgia, Tennessee, Virginia, North Carolina, Florida and Colorado for a package totaling $105 million.

  • MRE handled the subleases of the Memorial OneCare facilities in Houston.

  • MRE acquired and then sold 15 months later a 120,000 square foot Diagnostic Clinic facility located in Largo, Florida, total consideration - $25 million.

  • MRE completed the development of a 60,000 square foot MOB on the Pasadena Bayshore Hospital Campus including a 20,000 square foot surgery center. MRE’s primary role was the coordination of doctors with the hospital and the negotiation of all leases in the building. In addition, MRE provided all follow up with regard to the doctor’s space planning and tenant improvement allowance. MRE achieved a 97% leasing status within a 1-year time period.

  • MRE negotiated the sale of a 300,000 square foot office complex and it is totally leased entirely by Presbyterian Healthcare of New Mexico in Albuquerque, New Mexico.

  • MRE assisted in the pre-leasing of 30,000 square feet of a 60,000 square foot professional building to be built adjacent to the Mainland Hospital in Texas City, Texas.

  • MRE and Gibraltar Financial have developed an 85,000 square foot MOB on the Midland Memorial Hospital Campus in Midland, Texas. The project was just completed at a below budget cost estimate and contained a 30,719 square foot U.S. Oncology facility which MRE helped coordinate architectural, engineering, space plan layout, lease negotiations and construction supervision.

  • MRE negotiated the sale of a 60 bed rehab hospital on behalf of Midland Memorial Hospital for a total consideration of $12 million.

  • MRE negotiated the sale in 2008 of a new HealthSouth 40 bed rehab hospital in Fredericksburg, Virginia for a total consideration of $13 million. Also in 2008, MRE represented HealthSouth in the sale of their rehab hospital in Terre Haute, Indiana for a total sale price of $7 million.

  • MRE brokered from Memorial Hermann a 7 acre site in Houston, Texas, to HealthSouth for the development of a 50 bed rehab hospital, 2010-2011.

  • MRE has submitted a new development proposal for a 45,000 square foot MOB in Houston, Texas, for a large multi-specialty doctor clinic.

  • MRE has submitted a request for proposal for a 6,000 square foot MOB for Valley Healthcare in Virginia.

  • MRE has submitted a development proposal for a new 50,000 square foot MOB next to Peterson Memorial Hospital in Kerrville, Texas.

  • MRE has done business with the following providers, to name a few:

    • HCA, Texas, Tennessee, Florida, Arizona, Illinois

    • Tenet, Texas, Florida

    • Methodist, San Antonio, Texas

    • Loudon Community Hospital, Leesburg, Virginia

    • Med Partners, Texas, Florida

    • PhyCor, Texas, Florida

    • St. Andrews Center for Sight, Venice, Florida

    • Kagan Orthopedic, Ft. Myers, Florida

    • All Saints, Ft. Worth, Texas

    • Hillcrest Baptist, Waco, Texas

    • Memorial Hermann Healthcare of Houston

    • Prucare, Texas, Oklahoma, North Carolina

    • HealthSouth, Texas, Florida, Alabama, Illinois, Georgia

    • Christie Clinic, Champaign, Illinois

    • Pal-Med Clinic, Hialeah, Florida

    • King’s Daughters Clinic, Temple, Belton, Kileen, Texas

    • Texas Children’s Hospital, Houston, Texas

  • MRE has done business with the following medical investment firms, to name a few:

    • Healthcare Realty Trust

    • Healthcare Property Investors

    • Montecito Investment Co.

    • CIT Healthcare, LLC

    • Centurion Healthcare Fund

    • Healthcare REIT

    • The Sanders Trust

    • DASCO

    • Commerce Mortgage Company

    • Lichfield Advisors

    • GE Healthcare Financial Services

    • Medical Properties Trust

    • Health & Retirement Properties

    • First Guardian Group

    • Ventas

 

 

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