{"id":1004259323,"date":"2018-08-22T23:17:13","date_gmt":"2018-08-23T07:17:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004259323"},"modified":"2022-12-08T23:52:27","modified_gmt":"2022-12-09T07:52:27","slug":"medproperties-expands-texas-mob-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/medproperties-expands-texas-mob-portfolio\/","title":{"rendered":"MedProperties Expands Texas MOB Portfolio"},"content":{"rendered":"<p>By Alex Ciorogar<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004241530\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/griffin-american-snags-co-mob-for-32m\/healthcare-news-02b-6\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D3X&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1287072026&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;14&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.25&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg?w=800\" class=\"alignright wp-image-1004241530 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/healthcare-news-02b.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>MedProperties Realty Advisors LLC and has purchased three medical office buildings in the Austin&nbsp;metroplex. The portfolio comprises a 20,167-square-foot property in Round Rock, Texas, and a 27,554-square-foot building in Dripping Springs, Texas. In a partnership with Equity LLC, Med Properties also closed on the ground-up development of a two-story, 40,000-square-foot medical facility in Lakeway, Texas.&nbsp;<\/p>\n<p>The Lakeway medical facility will be built on a 2.8-acre site about 21 miles northwest of Austin. Baylor Scott &amp; White\u2019s medical campus center is nearby.&nbsp; Security State Bank &amp; Trust provided debt for the Lakeway project\u2019s development costs. BSA LifeStructures is designing the building, with the property scheduled for completion in April 2019.<\/p>\n<h2>Strong tenancy<\/h2>\n<p>The Dripping Springs facility is fully leased with a weighted average lease term of 10 years. Tenants here include orthodontics, neurology, urology, pain management, diagnostic imaging and gastroenterology services. The facility in Round Rock is 93 percent leased with an average lease term of nine years and features plastic surgery, minimally invasive surgery, dental and primary care services. Capital One Healthcare Managing Director Erik Tellefson arranged debt financing for the Dripping Springs and Round Rock acquisitions.&nbsp;<\/p>\n<p><em>\u201cAustin is a desirable market that is <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-austin-medical-office-buildings\/\">dominated by strong healthcare systems<\/a> such as Seton Healthcare Family, St. David\u2019s Healthcare and a growing presence of Baylor Scott &amp; White, one of the largest health systems in the country,\u201d<\/em> said Darryl Freling, managing principal of MedProperties, in a prepared statement.&nbsp;<\/p>\n<p>In February, MedProperties also purchased the 32,987-square-foot Lakeside Professional Building in Bastrop, an Austin suburb. Currently, the company owns four properties in the area, totaling more than 120,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The national real estate private equity firm purchased three medical facilities around Austin, bringing its total holdings in the area to four. <\/p>\n","protected":false},"author":928,"featured_media":1004241530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21743,21783,21754,21742],"tags":[37417,37881],"class_list":["post-1004259323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-deals","category-investment","category-medical-office","category-latest","tag-capital-one-healthcare","tag-medproperties-holdings"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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