SAN ANTONIO – San Antonio-based USAA Real Estate Company (USAA RealCo) has joined with HSA PrimeCare, located in Chicago, to acquire and develop outpatient healthcare real estate properties across 11 Midwestern states.
The firms also announced their first acquisition, a 97,375-square-foot register of medical office assets in northwest Indiana and in Tinley Park, Ill., a suburb southwest of Chicago.
The two companies are eying a wide range of healthcare real estate such as medical office buildings, cancer centers, ambulatory surgery accommodations, wellness centers and other specialty facilities. Besides Illinois and Indiana, the firms will seek out properties in Michigan, Ohio, Wisconsin, Minnesota, Iowa, Missouri, Nebraska, Kansas and Kentucky.
“Partnering with HSA PrimeCare, we hope to capitalize on emerging opportunities in the healthcare industry,” said Len O’Donnell, president and CEO of USAA RealCo.
HSA PrimeCare, developer and manager of medical office buildings in the Midwest, will provide investment analysis, development, leasing and property management services to the newly formed partnership.
By creating the joint venture with HSA PrimeCare, USAA RealCo broadened its geographic reach to the sector beyond the Southeast, where it began investing in 2015.
March 14, 2016