This Week's Houston Deal Sheet
HCA Holdings, the largest for-profit healthcare provider in the U.S., is buying three hospitals from Tenet Healthcare Corp. Combined, the deal contains 1,081 beds. Tenet is expected to net $725M from the transaction.
The deal includes the 423-bed Houston Northwest Medical Center, the 181-bed Cypress Fairbanks Medical Center Hospital and the 444-bed Park Plaza Hospital. HCA owns 10 hospitals in Houston along with more than a dozen surgery centers, emergency rooms and imaging centers.
SALES
NAI Partners' Travis Land repped White Oak Industrial Park in deals at three industrial buildings in the complex.
- Stoa Realty’s Anna Wang represented the buyer, Kun Liang, in purchasing a 12.5K SF dock-high building.
- Colliers’ Jon Lindenberger and Barrett Gibson repped Values Unlimited in purchasing a 25K SF dock-high building.
- CBRE’s Glynn Mireles repped the tenant, Lamons Gasket Co., in leasing an 18K SF dock-high building.
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NAI Partners’ Joshua Lass-Sughrue repped Broadstone IELC in the dispostion of a 7,800 SF single-tenant MOB at 926 North Wilcrest Drive in Houston. KW Commercial's Ada Wang represented the buyer, Zhanglu Texas.
LEASES
Baker Katz's Jason Baker repped Outback Steakhouse in two new Houston-area locations, 6,500 SF apiece in Katy and Pasadena. The Katy restaurant will be at the intersection of IH-10 and Katy Fort Bend Road. The Pasadena restaurant will be at the corner of Vista Road and Beltway 8. Retail Connection’s Stephen Tou repped the landlord in the Katy transaction, and Glasier Retail Partners’ Lindsay Schlueter repped the landlord in Pasadena.
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Gorrondona Engineering Services signed a new 20K SF industrial lease at Kennedy Greens Business Park, 4641 Kennedy Commerce Drive in Houston. JLL’s Ryan Fuselier and Geoff Perrott repped the tenant. Greg Barra, Conrad Bernard and Bo Pettit of Boyd Commercial repped the landlord, Clay Development & Construction.
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Transwestern’s Houston headquarters was retained by 111 Realty OPO to provide leasing services for Oak Park Office Center III at 6001 Rogerdale in Westchase. Transwestern’s David Baker, Jude Filippone and Jack Scharnberg are leasing the property.
HIRES/PROMOTIONS
Sheila Rowley has been promoted to partner at Studio Red Architects. Sheila joined Studio Red in 2008 and has over 30 years of experience in design and architecture.
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SRS Real Estate Partners hired Jed Mandel as senior vice president in the Houston office. He will focus on multi-tenant and single-tenant investment sales in Texas, and will lead the investment sales team in the Houston office.
FINANCING
LMI Capital's Kurt Dennis placed a 10-year, fixed-rate, non-recourse agency loan for a 100-unit complex in the Galleria submarket. The refinance was coordinated to close as soon as the open period began on the borrower’s existing loan to take advantage of low interest rates. The new rate was locked in at 4.33%.
THIS AND THAT
Avenue and the UH Community Design Resource Center are the joint recipients of the American Planning Association’s 2017 National Planning Excellence Award for Advancing Diversity & Social Change in Honor of Paul Davidoff. Both organizations are being recognized for their role in producing the 2015 Near Northside Quality of Life Agreement.
