Alliance Acquires Net-Leased Medical Office Portfolio in Texas for $6MJune 11, 2021
Alliance Consolidated Group of Companies (Alliance) today announced it has acquired two net-leased medical properties in College Station and Brenham, Texas. Alliance purchased the 16,097-square-foot portfolio from a private seller for $6,075,000.
The first asset is located at 1730 Birmingham Road in College Station. Comprising 12,958 square feet, the two-tenant property is leased to Texas ENT & Allergy and CHI St. Joseph and Texas A&M Health Network. The other property, located at 539 Medical Parkway in Brenham, is 3,139 square feet and fully leased to Texas ENT & Allergy.
“The population explosion in Texas over the past decade has led to increased demand for Class A and B medical properties,” said Ben Reinberg, founder and CEO of Alliance. “This deal continues our expansion into a state where sustained economic growth and a friendly tax environment continue to fuel private investment.”
Texas ENT & Allergy is a full-service, independent ear, nose and throat, allergy and audiology private practice. CHI St Joseph’s Health is part of St. Joseph Health College Station Hospital — one of the largest hospital systems in the region and located only a half-mile from 1730 Birmingham Road.
College Station is at the heart of the “Texas Triangle” and has a population that is more than 95% insured. It is a strong healthcare market with three health systems — CHI St. Joseph Health System, College Station Medical Center and Baylor Scott & White Health — employing approximately 3,000 individuals combined.
Brenham is poised to grow into a prominent medical destination for the surrounding region, especially as its proximity to both Austin and Houston offers providers access to over 4 million residents. 539 Medical Parkway is located within a half-mile of Baylor Scott & White Medical Center – Brenham, which maintains a Level 4 trauma center and Level 3 stroke facility.
Michael Moreno, vice president and senior director of healthcare at Matthews Real Estate Investment Services, represented the private seller in the transaction.
Alliance, which targets the 50 largest MSAs around the country, has been investing in Texas for over 15 years and now has numerous assets under management there. The state continues to lead the nation in raw population growth, with 373,965 residents added between 2019 and 2020, according to the U.S. Census Bureau.
About Alliance Consolidated Group of Companies:
Alliance Consolidated Group of Companies is a real estate investment firm that specializes in net-leased medical buildings. Founded in 1995, the firm targets a variety of healthcare facilities around the country. Alliance delivers attractive, risk-adjusted returns by leveraging longstanding relationships with lenders, brokers and investors to identify the best opportunities in each market and facilitate a quick close. Additional value is created post-acquisition through professional property management services provided in-house. For more information, visit www.alliancecgc.com.