Healthcare Realty Trust acquires Plano Medical Pavilion
JLL completes the sale of the newly constructed building on the campus of Baylor Scott & White Medical Center - Plano
SAN DIEGO, November 13, 2019 – JLL announced today that it has closed the sale of Plano Medical Pavilion, a 48,192-square-foot, newly constructed, on-campus medical office building in Plano, Texas.
JLL marketed the property on behalf of the seller, Heady Investments and Gulf Corporation, and procured the buyer, Healthcare Realty Trust.
Plano Medical Pavilion is located at 4825 Alliance Boulevard on the campus of the Baylor Scott & White Medical Center - Plano, which houses three healthcare facilities: Baylor Scott & White Heart Hospital Plano, Baylor Scoliosis Center and Baylor Scott & White Medical Center, which together total 332 beds. The property has unmatched local and regional connectivity being positioned at the convergence of Preston Road, President George Bush Turnpike and Plano Parkway. Additionally, Plano Medical Pavilion benefits from its location in Plano, which is the ninth largest city in Texas with a population exceeding 299,000, and part of the rapidly growing DFW Metroplex. The property is anchored by Baylor Scott & White affiliates.
The JLL Capital Markets team representing the seller includes Evan Kovac, Andrew Milne, Ben Appel, Brian Bacharach and Matt DiCesare. John Chun from JLL advised from a debt and structured finance perspective.
According to JLL, the property represents an extremely rare, core, on-campus, newly constructed outpatient medical office facility aligned with one of the top health systems in the United States.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.