Gastro ASC Portfolio_Property for Sale
Gastro ASC Portfolio_Property for Sale
Various locations

Gastro ASC Portfolio

Portfolio description

JLL has been exclusively retained to offer qualified investors the opportunity to purchase a 100 percent interest in the Gastro ASC Portfolio (the "Portfolio”, the “Buildings”, or collectively referred to herein as "Hamilton Wolfe", "Toepperwein", and "Proton”), comprised of three medical outpatient buildings with ambulatory surgery centers (“ASC”). The Portfolio is 100% leased to Gastroenterology Consultants of San Antonio ("GCSA"), which is a partnership between the Physicians of GCSA and GI Alliance (“GIA”) formed in March 2020. GIA operates 312 centers across 14 states and is the largest, physician-led gastroenterology network in the US, measured both by revenue and provider count. GCSA is the leading provider of gastrointestinal services in Texas, serving patients at fourteen locations throughout the San Antonio area. The surgery centers, which comprise approximately two thirds of the total area in all three of the buildings, are a joint venture between GCSA and United Surgical Partners International (“USPI”), a subsidiary of Tenet Health Care (NYSE: THC).


The Buildings are high quality newer construction and comprise 55,533 rentable square feet, housing fourteen surgical operating rooms. Each of the Buildings are well located and sit adjacent to separate hospitals, totaling 2,676 patient beds. The leases are net structures with a weighted average term of 11.1 years, in addition to favorable 5 and 10 year fair market value renewal options, with floors.

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Attributes

Building area gross
5,159 sm
Occupancy
100%
Buildings
3
WAULT
11.1 years
Land area gross
1 sm
Parking spaces
302
Gastro ASC Portfolio (3 Properties)
Gastro ASC Portfolio (3 Properties)

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Investment highlights

• Portfolio comprised of three newer class A outpatient medical buildings with surgery centers all located adjacent to separate hospital campuses within the San Antonio, TX MSA

• Leased to GCSA, the leading provider of gastrointestinal care in Texas, with fourteen locations throughout San Antonio

• GCSA is in a joint venture with GIA, the largest provider of gastrointestinal services in the U.S., and in a separate joint venture with USPI, jointly operating the surgery centers

• Excellent weighted average lease term of 11.1 years; all net lease structures with extremely favorable landlord renewal options

• The buildings are adjacent to Christus Health (657 beds), University Health (657 beds), Methodist Hospital (811 beds), Methodist Hospital Northeast (94 beds), North Central Baptist Hospital (443 beds) and Methodist Hospital Stone Oak (284 beds)

• San Antonio is the 24th largest MSA in the U.S. with high barriers to entry and very little available outpatient medical building supply

Gastro ASC Portfolio 4_Property for Sale
Gastro ASC Portfolio 4_Property for Sale

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Last updated
Jul 19, 2024