JLL closes sale of healthcare portfolio in Central Texas
Properties operate as post-acute neuro-rehabilitation facilities for patients with brain and spinal cord injuries
HOUSTON, December 12, 2019 – JLL announced today that it has closed the sale of two recently completed healthcare facilities totaling 35,000 square feet in the Central Texas cities of Austin and San Antonio, Texas.
JLL represented the seller, an affiliate of Houston-based Simpkins Group. The buyer is an affiliate of Capital Square 1031.
The portfolio comprises two post-acute neuro-rehabilitation facilities operated by Mentis Neuro Health, a market leader in acute care for acquired brain injuries. Services provided include inpatient and outpatient programs that provide intensive, specialized therapy in the areas of physical therapy, occupational therapy, speech/language pathology and counseling services, among others. The Austin-area property, located at 5150 A.W. Grimes Boulevard in Round Rock, consists of 16 beds with the capacity to expand to 24 beds within a 15,139-square-foot building. The San Antonio property, located at 18931 Hardy Oak Boulevard, consists of 24 beds within an approximately 20,000-square-foot building.
The JLL Capital Markets team representing the seller was led by Vice President Rick Goings, Managing Director Rudy Hubbard, and Senior Vice President Kevin McConn.
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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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.
About Simpkins Group
Simpkins Group is a commercial real estate development and investment firm that specializes in providing quality build-to-suit industrial, office, retail and medical facilities for corporate clients. For more information, please visit: simpkinsgroup.com.
About Capital Square 1031
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Capital Square has completed more than $1.6 billion in transaction volume. Capital Square’s executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square’s related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. In 2017, 2018 and 2019, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In 2017 and 2018, the company was also ranked on Richmond BizSense’s list of fastest growing companies. In 2019, Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” and “Fantastic 50” reports. To learn more, visit CapitalSquare1031.com.