Posts

Heitman Acquires A Six Baylor Micro-Hospital Medical Office Portfolio In Dallas-Forth Worth

/in /by

Heitman LLC, a global real estate investment management firm, today announced the acquisition of a six building portfolio of Baylor-anchored micro-hospital locations totaling approximately 190,000 square feet.

Heitman acquired the Baylor Scott & White Health System Medical Office Building portfolio on behalf of its global strategy in a joint venture with Seavest Healthcare Properties.

The properties were built between 2014-2018 and are affiliated with the largest hospital system in the Dallas-Fort Worth metroplex, Baylor, and are operated by Emerus Holdings who specializes in micro-hospital partnerships with large, sophisticated health systems.

The portfolio is 100% leased and the six properties are strategically located throughout the Dallas-Fort Worth area near population centers with access to major transportation nodes serving the larger metroplex.

“We are pleased to partner with Seavest, an established and high-quality MOB operator, to acquire this best-in-class micro-hospital portfolio on behalf of our global investment strategy and to work with Texas’ largest healthcare provider,” said Gordon Black, Heitman Senior Managing Director and Global Portfolio Manager. “Our global strategy invests across property types in the North American, European, and Asia-Pacific regions. The addition of the Baylor micro-hospital MOB portfolio provides our global portfolio strong risk diversification from both a regional and sector perspective as we continue to balance our portfolios to match today’s operating environment and continued uncertainty in the markets.”

BlackBirch Capital exclusively represented the seller.

 

Source: HREI

Baylor Scott & White Gets OK For 47-Acre Rezoning Effort For New Medical Center In Frisco

/in , , /by

Baylor Scott & White has been granted approval in a rezoning effort for 47.4 acres east of the Dallas North Tollway for a high-rise complex in Frisco.

The largest nonprofit hospital system in Texas bought the property from Jerry Jones’ Blue Star Land in June 2021, according to a story in the Dallas Morning News.

“We are constantly evaluating ways to expand access to care for Texans, especially in our fastest growing communities. Our plans are not yet finalized, and we look forward to sharing more in the coming months,” Baylor Scott & White told the Morning News earlier this week ahead of Tuesday night’s Planning & Zoning Commission meeting.

According to the Morning News, the land was initially zoned for retail and industrial use, but the multi-story health care buildings Baylor Scott & White seeks to bring to the city require designated space to permit unlimited height development for professional, financial, and medical service providers.

Despite the location at the intersection of the Dallas North Tollway and PGA Parkway, the rezoning request said the designation is appropriate for the area. According to the filing, no residential districts border the property and adjacent properties are compatible with non-residential zoning.

Now with approval, Baylor Scott & White’s new center could join a list of health care facilities along the tollway alongside The Star, Dallas Cowboys’ headquarters and mixed-use development.

The project could become a medical district to serve Collin County’s communities with a projected growth to double to 2.4 million by 2050, the Morning News reported in its story.

 

Source: Dallas Business Journal