Partnered with San Antonio based physicians’ group to execute a ~ 9,775 square foot ground up development opportunity. The project was planned and underwritten as a build to suit for DaVita dialysis. The project and business plan was successfully completed with a sale in 2021.
We worked with the physicians’ groups to create a business plan to develop, lease, and sell a fully leased medical office building in the northwest quadrant of San Antonio. Our goal was to maximize the investors’ profit participation while also creating flexibility for the investors to reinvest their funds in other opportunities as soon as possible.
We analyzed the market demographics (population, patients, insurance types) and focused the site search along Loop 1604, within Westover Hills. 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.
ACA experience may represent transactions performed at previous firms.
All information is deemed accurate, but not guaranteed.
