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Willow Park Endoscopy Center and Clinic, Willow Park TX

Montecito Medical Acquires New Medical Office Building In Dallas-Fort Worth Area

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Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a medical office property in the Dallas-Fort Worth Metroplex.

The new, 12,144 square-foot building, tenanted by Willow Park Endoscopy Center and Clinic, is located in Willow Park, a growing community on the west side of Fort Worth.

“We are delighted to acquire yet another brand-new medical office asset in the DFW Metroplex, adding to the number of properties in the Metroplex that are part of our portfolio,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.

Kyle A. Libby of MedCore Partners represented the seller in the transaction.

Willow Park Endoscopy Center and Clinic is a joint venture between GI Alliance, SCA Health, and Texas Health Resources.

GI Alliance is the largest, physician-led gastroenterologist group in the United States. Texas Health Resources is one of the largest faith-based, nonprofit health systems in the United States and the largest in North Texas in terms of inpatients and outpatients served. SCA Health is a specialty care company providing a wide range of care to patients in centers nationwide.

In the past two years, Montecito has acquired more than 15 medical office properties across the Dallas-Fort Worth Metroplex.

“We are thrilled for the opportunity to build on the relationships we have established with GI Alliance and Texas Health Resources as we actively expand our large and growing footprint across the DFW area,” said Chip Conk, CEO of Montecito Medical.

 

Source: HREI

Florida-Based Savlan Capital Acquires Two Medical Office Buildings In Dallas

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Florida-based investment firm Savlan Capital has acquired a 38,794-square-foot medical office building located at 9250 Amberton Parkway in Dallas.

Texas Health Resources occupies the property, which was acquired in conjunction with two other medical office buildings in Richmond, Virginia.

Joe Massa, Anthony Lunceford, Thomas Fakharzadeh and Michael Grenaway of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, California-based Modiv, in the transaction.

 

Source: REBusinessOnline

Texas Health Huguley’s $73M Expansion

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Texas Health Huguley Fort Worth South will be undergoing a $73 million expansion project to add more than 108,000 square feet to the 291-bed acute care hospital.

The Beck Group designed the addition, which will focus on the hospital’s emergency department and add a four-story patient tower that will house intensive care, cardiac, surgical and other services. Texas Health Huguley Hospital Fort Worth South is a joint venture between Texas Health Resources and Adventist Health System, which runs care sites in nine states and employs 80,000 caregivers.

After years of expansion in the northern suburbs, southern areas are beginning to garner the attention of the region’s major health systems. In recent years, Texas Health opened a hospital in Mansfield, and Methodist Health System built a Midlothian hospital. Population growth in DFW continues to boom, and new hospitals and expansions have followed the growth. In Dallas, the former Red Bird mall is being transformed into a retail medical center, with Parkland, UT Southwestern, and Children’s Health all planning to be a presence.

“This is exactly what our community needs,” said President and CEO of Texas Health Huguley and the Southwest Region of AdventHealth Penny Johnson via release. “We’ve seen tremendous growth in the number of families moving south of Fort Worth. This expansion is another milestone in our longstanding commitment to provide the highest-quality health care in South Tarrant and Johnson County, so residents do not need to travel outside of our community for care.”

The hospital emergency department has treated more patients in recent years, and the expansion will improve capacity and efficiency.

Construction will begin early next year and is expected to be complete in 2023.

 

Source:  DMagazine