CNL Healthcare Buys Specialty Hospital for $76M
- Jul 25, 2014
In a $76 million deal, CNL Healthcare Properties Inc. has acquired the Houston Orthopedic & Spine Hospital campus (HOSH). The transaction represents the largest single-property investment to date for the Orlando, Fla.-based REIT, which specializes in senior housing and healthcare properties.
Located at the intersection of Interstates 69 and 610 in the Galleria submarket,the asset consists of a 126,946-square-foot specialty hospital, a 99,768-square-foot multi-tenant medical office building and two dedicated parking structures.
The hospital includes 64 private beds, 10 operating suites and a wide array of imaging services. HOSH was naned one of Houston’s top surgical units in 2013 by Consumer Reports. According to a statement released by CNL Healthcare, Lincoln Harris CSG will handle leasing and management of the campus.
“The HOSH campus is an exceptional addition to our expanding healthcare portfolio, allowing us to further enhance and diversify our holdings,” said Stephen H. Mauldin, president & CEO of CNL Healthcare Properties. “Strategically positioned in the nation’s fifth largest metropolitan area, HOSH’s management and providers have earned an outstanding reputation for delivering the highest quality services and patient care.”
HOSH joins CNL Healthcare’s extensive senior housing portfolio in Texas, which also includes such as assets as The Watercrest at Bryan, the Isle at Cedar Ridge in Cedar Park, The Springs Alzheimer’s Special Care Center in San Angelo and the Raider Ranch-Development in Lubbock. Nationally, CNL Healthcare’s portfolio comprises 78 assets in 26 states that represent a $1.37 billion investment.
Image Courtesy of CNL Healthcare Properties