Berkadia Completes Sale Of Two Medical Buildings In Texas MSAs

Berkadia just announced the sale of two medical buildings: Memorial Hermann Sports Park, located in Katy, Texas, a western suburb of Houston and Texas Health Resources Sports Park, located in Allen, Texas, a suburb of Dallas.

Senior Managing Director and Head of Medical & Life Sciences Sabrina Solomiany, Managing Directors Chris Lashmet and Eric Lee, and Senior Director Vasili Davos of Berkadia Medical & Life Sciences led the transaction on behalf of the seller, Nashville-based Montecito Medical Real Estate.

Memorial Hermann Sports Park and Texas Health Resources Sports Park sold to Chicago-based LaSalle Investment Management and the deal closed on November 22.

“These properties attracted significant investor interest, as they represent a unique way for health systems to treat patients from initial injury through full recovery, all while keeping them on their respective campus,” said Solomiany. “Through a competitive process, we were able to achieve top pricing for our client while also administering a smooth transaction for both the buyer and seller.”

Located at 23910 Katy Fwy, Memorial Hermann Sports Park was built in 2019 and is situated on the campus of the 208-bed Memorial Hermann Katy Hospital. This two-story medical building houses a physical therapy and sports medicine facility, which includes a large outdoor athletic field. The first floor features Memorial Hermann Sports Medicine, offering clinical space and physical therapy, as well as Athlete Training + Health (ATH), which boasts a state-of-the-art athlete training center. The second floor is occupied by Memorial Hermann Primary Care and partially subleased by UT Physicians Orthopedic Surgery and includes an exterior terrace with a wide view of the athletic field.

Located at 1110 Raintree Circle, Texas Health Resources Sports Park was built in 2020 and is located on the campus of Texas Health Presbyterian Hospital Allen. Similar to the facility in Katy, the property features sports medicine and orthopedic care provided by Texas Health Resources along with an outdoor athletic field, and athlete rehabilitation and training by ATH.

About Berkadia:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

Source: HREI