SAN ANTONIO – Transwestern’s San Antonio office handled the sale of the Texas Center for Athletes medical office building next to the San Antonio Spurs training facility.
Transwestern represented the seller, Sports SA Holdings LP. The 128,347-square-foot, four-story medical office building in San Antonio’s South Texas Medical Center is 98 percent leased.
The building, located at 21 Spurs Lane, adjacent to the San Antonio Spurs training facility. Sports SA Holdings was represented in the sale by Transwestern’s Senior Managing Director Alan Grilliette and Executive Managing Director Russell T. Noll. A subsidiary of Senior Housing Property Trust (SNH) purchased the building.
“SNH was attracted to the asset’s quality, as well as the quality of its specialty practices and surgery center,” said Grilliette. “Medical office buildings are among the most sought-after investment classes today. We had a tremendous amount of interest in this high-quality asset, primarily from REITs and private equity investment funds.”
“It is rare for owners to time the sale of an asset to obtain the highest value possible in the life cycle of the real estate,” said Noll. “In the case of Texas Center for Athletes, we were able to assist the owners in accomplishing this goal.”
Built in 2006, Texas Center for Athletes includes a surgery center, various medical specialties, a pharmacy, and a therapeutic spa.
Grilliette and Noll are part of Transwestern’s Central Texas Capital Markets Group, which is active in the Texas markets of Austin, San Antonio, Corpus Christi and the Rio Grande Valley.