{"id":1004181208,"date":"2017-06-20T06:28:34","date_gmt":"2017-06-20T14:28:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004181208"},"modified":"2022-12-08T18:42:02","modified_gmt":"2022-12-09T02:42:02","slug":"everest-snags-58m-medical-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/everest-snags-58m-medical-office-portfolio\/","title":{"rendered":"Everest Snags $58M Medical Office Portfolio"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<p>Everest Medical Properties, in partnership with a pension fund, purchased four <a href=\"https:\/\/www.commercialsearch.com\/news\/everest-medical-core-nabs-k-c-area-medical-building\/\">medical office assets<\/a> near Houston for $58 million. The portfolio includes the Memorial Hermann Surgical Hospital and the Physicians Pavilion in Sugar Land, Texas, as well as the UT Physicians facilities in Sugar Land and Richmond, Texas.\u00a0<\/p>\n<div id=\"attachment_1004181221\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004181221\" data-attachment-id=\"1004181221\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/everest-snags-58m-medical-office-portfolio\/houston4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg\" data-orig-size=\"1300,700\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Everest Medical Properties&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Everest Medical Properties (PRNewsfoto\/Everest Medical Properties)&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Houston4&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Houston4\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Everest Medical Properties (PRNewsfoto\/Everest Medical Properties)&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg?w=1024\" class=\"wp-image-1004181221 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg\" alt=\"The Richmond Bone and Joint Clinic in Richmond, Texas \" width=\"300\" height=\"162\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg 1300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg?resize=300,162 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg?resize=768,414 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11.jpg?resize=1024,551 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004181221\" class=\"wp-caption-text\">The Richmond Bone and Joint Clinic in Richmond, Texas<\/p><\/div>\n<p>Memorial Hermann Healthcare System, the largest not-for-profit health system in Southeast Texas, features 12 hospitals and various specialty programs and services throughout the Greater Houston area. Memorial Hermann \u2013 Texas Medical Center is the primary teaching hospital for The University of Texas Health Science Center at Houston Medical School.<\/p>\n<h2>Fully leased properties<\/h2>\n<p>Roughly 147,000 square feet are currently 100 percent occupied, with a remaining term of almost seven years, and a majority of ongoing leases feature annual rent bumps.<\/p>\n<p>The average household income in the area exceeds $100,000. There\u2019s a 14 percent population growth projected through 2021.<\/p>\n<p><em>Image courtesy of Everest Medical Properties<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate company partnered with a major pension fund to acquire four properties in Sugar Land and Richmond, Texas.<\/p>\n","protected":false},"author":238,"featured_media":1004181221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1589,21783,21754,21742,21747],"tags":[36277,36278,34742],"class_list":["post-1004181208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-houston","category-investment","category-medical-office","category-latest","category-office","tag-everest-medical-properties","tag-medical-office-building","tag-memorial-hermann"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She has a 12-year background in broadcast media and joined the CPE-MHN team in 2016. Laura writes and edits in-depth stories on the hottest topics in the real estate industry, but she is also the host of award-winning podcast shows for both brands. 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