The joint venture marks the first collaboration between Global Medical REIT Inc., a net-lease medical real estate investment trust, and Heitman LLC, a global REIT management firm. Newmark is orchestratrating a $35.2 million recap of MOBs to seed the partnership.
The 100% leased Class A medical outpatient building and ambulatory surgery center is located in Grapevine that is part of the Dallas-Fort Worth metropolitan area, which is expected to be the fifth fastest-growing large metro area in the U.S. by 2028.
Demand for effective rehabilitation therapies, and improvements in patient care are expected to fuel the market’s growth in the coming years. The growing incidence of unhealthy lifestyles, aging populations, and the rise of chronic diseases are key drivers behind the market’s expansion as well.
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