Dallas, TX – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, arranged the sale of a 5-Property Healthcare portfolio in Texas. Vice President and Senior Director, Michael Moreno, and Associate Vice President and Senior Director, Rahul Chhajed, of Matthews™ Healthcare Division, represented the buyer.
The 37,282 square foot portfolio sale consisted of five emergency rooms in Texas were originally build-to-suit developments for Neighbors ER in 2015. The properties are in Lufkin, Grand Prairie, El Paso, Lake Jackson, and Victoria, TX.
Neighbors went bankrupt shortly after the properties were built, and the owners were left with vacant, under-performing assets. Matthews™ Healthcare Division brought a developer to the table who was interested in purchasing these assets as they were working with a surgery center client that felt these locations would work well for their business.
“We were thrilled to be able to help the seller finally get these assets off their books,” said Associate Vice President and Senior Director Rahul Chhajed. “Furthermore, the buyer was able to add a significant amount of value by converting these into surgery centers and signing long-term leases, and the tenant was happy with backfilling well-located pieces of medical real estate.”
“The fact that our team is hyper-focused on medical real estate and has a pulse on the market enabled us to show the buyer the significant upside to the deal,” concluded Vice President and Senior Director Michael Moreno. “Matthews™ Healthcare Division was able to add another notable transaction to the list. We are very happy for all involved.”
Matthews™ Healthcare Division was recently honored by GlobeSt.com Real Estate Forum as Influencers in Healthcare. For more information regarding this sale or if you have any other questions related to healthcare property investments, please reach out to Rahul Chhajed and Michael Moreno.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales and leasing. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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