 |
| Bellaire Medical Plaza, 5420 Dashwood Drive, Houston, TX |
HOUSTON, TX –– JLL Capital Markets announced it has closed the sale and arranged financing for Bellaire Medical Plaza, a 58,517-square-foot medical office building near the Texas Medical Center in Houston, Texas.
JLL represented the
seller, Ridgeline Capital Partners, and procured the buyer, an affiliate of
Rycore Capital. In addition, JLL worked on behalf of Rycore Capital to secure
the acquisition loan.
 |
| Kevin McConn |
The property is positioned just
five miles from the Texas Medical Center campus, which is considered the
largest medical complex in the world with more than 50 million square feet of
healthcare space and 106,000 employees.
The 88%-leased property
is home to a synergistic mix of medical tenants with specialties in primary
care, dialysis, pain management, ophthalmology, audiology, and laboratory
services, including UT Physicians, Quest Diagnostics, LabCorp and Harris Health
System.
In addition, the three-story facility offers a walk-in health
clinic and pharmacy on site. The property also includes a 3.67-acre parcel
allowing for future development on the site.
 |
| Brian Bacharach |
JLL’s
Capital Markets team leading the financing efforts included Senior Managing
Director Matt Kafka and Managing Director Cameron Cureton.
“Bellaire
Medical Plaza has a fantastic location in Houston’s Inner Loop, generating
demand from the Texas Medical Center as well as benefiting from the enormous
residential and workforce population within a few miles of the property,” said
McConn.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
 |
| Matt Kafka |
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For
more news, videos and research resources on JLL, please visit our newsroom.
About
Ridgeline Capital Partners
Ridgeline
is a private real estate investment firm specialized in acquiring and operating
healthcare real estate assets.
The firm utilizes its experience in
acquisitions, management, development and capital markets to invest capital
entrusted to Ridgeline.
 |
| Cameron Cureton. |
About
Rycore Capital
Rycore
Capital LP is a Houston-based real estate investment manager, focused on
acquiring, leasing and managing income producing properties that deliver
superior real estate solutions to its tenants while providing its investment
partners with some of the most consistent value-add, core-plus and core
returns.
CONTACT:
Kristen
Murphy
Senior
Manager
Public Relations
Investor Services
JLL
One
Post Office Square, Suite 3500
Boston,
MA 02109
T
+1 617 848 1572
M
+1 617 543 4873
