Pinecroft Realty completed the acquisition of Brazos Valley Medical Office Building at 3121 University Drive E in Bryan, Texas. The building was acquired from a local investor. The transaction was announced by Jim Pisula, President and CEO, Pinecroft Realty.
Brazos Valley MOB is a 100% leased, two-story, 40,268-square-foot building that was developed in 2015 on a 4.76-acre land site.
The primary tenant of the building is Central Texas Sports Medicine, which occupies nearly 62% of the space. Central Texas Sports Medicine is the premier regional orthopedic and sports medicine practice that serves the Brazos Valley. The remaining area in the building is leased to a testing facility and fitness center.
According to Pisula, the acquisition of Brazos Valley MOB is the result of cultivating potential partnership opportunities with local physicians.
Bryan, Texas, is located approximately 100 miles northwest of Houston and is home to Texas A&M University. Within the Bryan market, the Brazos Valley MOB is well-located near popular neighborhoods, hospitals, shopping and other access elements. The building is part of the Physicians Centre Hospital campus, which operates under the same Baylor Scott & White/Surgery Partners joint venture platform.
Pinecroft also partnered with Hornsilver Capital, led by Jason Manske, on the transaction.
The acquisition financing was led by John Heitmann of Colliers U.S. Healthcare Capital Markets Group. Heitmann placed the financing with a regional bank’s healthcare banking division.
