Catalyst HRE Acquires $19 Million Medical Building Located in Dallas, Texas
February 8, 2019
Catalyst HRE, a leading healthcare real estate firm, has proudly announced the recent acquisition of a six-story medical office building located in northern Dallas, Texas. The fast-growing real estate and development company has purchased the assets of the property for nearly $20 million.
The recently-acquired space is adjacent to Texas Health Presbyterian Hospital and hosts ParkHill Pediatric Center. Texas Health Presbyterian is the second largest hospital in the Dallas/Ft. Worth region of Texas and currently holds over fifty percent of market share of inpatient cases in the area. Catalyst HRE views this acquisition as an opportunity to expand their portfolio and offer strategic alignment with Texas Health Hospital and ParkHill Pediatric Center.
“We are excited for the opportunities that will come with purchasing the Greenville Medical Tower, and we look forward to working hard to meet the needs of the staff and patients of this great community” said Chad Henderson, CEO of Catalyst Healthcare Real Estate.
The office building, located at 7150 Greenville Avenue, is a glass and granite building that will continue to offer premier medical services to the public. It is multi-tenant building that contains a mix of clinical and specialty space. Sitting on 1.71 acres, the MOB offers over 77,000 of square footage to its staff and patients and uses an underground structure for parking. Greenville Medical Tower is located near the North Central Expressway, a high traffic zone, which promotes easy access for its staff and patients.
Alex Stacy, Chief Acquistion Officer of Catalyst HRE stated, “This acquisition is indicative of our commitment to investing in well-located, high-quality healthcare real estate assets.”
Texas Health Presbyterian Hospital and ParkHill Pediatric Center both provide multiple services through the Greenville Tower such as primary care offices, cardiovascular groups, an imaging center, and two surgery centers. The location of the building combined with low unemployment rates and high income should contribute to the overall success of the recent acquisition.
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Catalyst HRE (f/k/a Catalyst CRE) is one of the nation’s fastest-growing healthcare real estate development firms. With an exclusive focus on healthcare, Catalyst provides a suite of integrated deliverables to healthcare systems, specialty providers, and independent physician networks.
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