Tuesday, March 15, 2016

USAA Real Estate Company and HSA PrimeCare Announce Joint Venture to Acquire and Develop Healthcare-Sector Properties in the Midwest


John Wilson
 SAN ANTONIO, TX and CHICAGO, IL — USAA Real Estate Company ("USAA RealCo") and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, announced the formation of a joint venture to acquire and develop outpatient healthcare real estate assets across 11 states throughout the Midwest.

 Together with this announcement, the new joint venture also made its first acquisition, of a 97,375-square-foot portfolio of medical office assets located in northwest Indiana and Tinley Park, Ill., a southwest suburb of Chicago.

The newly formed equity fund is positioned to acquire and/or develop a broad range of healthcare real estate such as medical office buildings, cancer centers, ambulatory surgery centers, medical wellness centers and other specialty centers.

 HSA PrimeCare, a leading developer and manager of medical office buildings in the Midwest, will provide investment analysis, development, leasing and property management services to the newly formed partnership.

Executive leadership of HSA PrimeCare and HSA Commercial who will collectively lead this venture include Bob Smietana, Dan Miranda and John Wilson.

"We are extremely proud to be forming this new venture with USAA Real Estate Company,” said John Wilson, president of HSA PrimeCare.

“USAA RealCo's unparalleled reputation, coupled with its exceptional depth of resources and commitment to healthcare real estate, will combine with our own expertise and local knowledge to create a preferred provider of real estate solutions for healthcare providers."

For a complete copy of the company’s news release, please contact:

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527


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