Healing Realty Trust (HRT) announced the acquisition of a multi-tenant medical outpatient building (MOB) in El Paso, Texas, enhancing its clinic-focused portfolio. The MOB is being acquired for $7.15 million.
The acquired asset is comprised of 50,213 square feet and is leased to a diverse range of medical tenants, including WellMed, Quest Diagnostics, Optum and Universal Health Services, with the opportunity to further enhance occupancy. The MOB is within a few miles of major hospitals (including both HCA Healthcare and Tenet Healthcare hospital systems), ambulatory surgery centers, long-term acute care hospitals, the University of Texas El Paso campus, Texas Tech Medical School and to numerous expanding military bases.
HRT is a data-driven company that invests in and owns healthcare-related real estate assets. These include medical outpatient buildings, psychedelic-assisted therapy centers, physical therapy centers, sports medicine clinics, behavioral health centers and other healthcare properties.
News of the deal follows HRT’s September 2024 acquisition of a 36,000-square-foot MOB in Beaumont, Texas.
“The El Paso property is a strong addition to HRT’s growing portfolio as we continue to transform traditional real estate investment and enhance access to vital healthcare services across the country,” said Joe Caltabiano, CEO of HRT. “With healthcare shifting beyond the walls of hospitals, we remain committed to supporting today’s critical health services and leading the way in delivering tomorrow’s cutting-edge treatments to meet the rising demand for care in non-hospital settings.”
According to data captured in the LevinPro HC database, this transaction marks the 168th MOB acquisition, and the 23rd announced in Texas for 2024. There were 197 MOB deals announced during 2023, and 216 announced during 2022.
