Milam Real Estate Sells San Antonio MOB
The facility came online last year.
Milam Real Estate Capital has sold Methodist Hospital Northeast Plaza II, a 75,000-square-foot medical outpatient building in Live Oak, Texas, a San Antonio submarket. A publicly traded REIT acquired the three-story facility in a deal brokered by Berkadia.
Located at 12500 Judson Road, the Class A property came online last year as the second medical office building of the Methodist Hospital Northeast campus. The facility was fully leased to multiple tenants at the time of sale, with 73 percent direct occupancy by Methodist Healthcare.
READ ALSO: Challenges Create Opportunities, Says MOB Investor
Medical outpatient facilities remain attractive for investors due to the sector’s resilience. In 2024, this asset class’s investment volume increased compared to the previous year, according to a JLL report. Despite economic uncertainties affecting commercial real estate, the medical office sector continues to hold its own due to positive long-term fundamentals.
A newly built medical facility in San Antonio
Beaty Palmer Architects designed the three-story facility. The 24,000-square-foot first floor features four operating rooms and houses Methodist Healthcare services. The second-floor space is occupied by Northeast Pulmonary Sleep Associates, Virtuosa GYN and Methodist Healthcare Alamo City Surgeons, while the 24,500-square-foot third floor houses a cardiology clinic.
The building is less than 10 miles from San Antonio International Airport, while downtown San Antonio is some 15 miles southwest. Other medical providers in the area include Espada Vascular, Toepperwein Medical Center and 7 to 7 Dental & Orthodontics.
Berkadia Senior Director Vasili Davos, Senior Managing Director Sabrina Solomiany, together with Managing Directors Chris Lashmet and Eric Lee, negotiated the transaction behalf of the seller.
You must be logged in to post a comment.