We worked with the physicians’ groups to create a business plan to develop, lease, and sell a fully leased medical office building in the northeast quadrant of San Antonio.
We analyzed the market demographics (population, patients, insurance types) and focused the site search along Loop 1604, near the intersection of Nacogdoches Road & Judson Road. A review of the building footprint and parking requirement narrowed the site search further and confirmed the minimum land requirement.
Once the venture acquired the land site, a full construction/development team (engineers, architects, contractors, etc.) planned and executed the delivery of the physical asset. The physician partners contributed equity capital and debt was originated from a regional bank lender. In this way, the capital structure reinforced the underlying business plan to develop and sell.
Upon completion of the building and commencement of the tenant’s lease, we reevaluated the capital markets and confirmed it was time to sell the project. A broad marketing effort resulted in a competitive bid dynamic, and the resulting sale was the final step in the successful ground up development business venture.