84.1 F
Fort Worth
Tuesday, October 20, 2020
Banking Grapevine firm acquires medical building in San Antonio

Grapevine firm acquires medical building in San Antonio

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Real estate investment firm 2GR Equity LLC of Grapevine in a joint venture with Equity Inc. acquired a 166,167-square-foot medical office building on 11 acres in San Antonio’s South Texas Medical Center. The largest tenant in the building, Methodist Ambulatory Surgical Hospital (MASH), operates the 48,000-square-foot, 28-bed, nine-operating room hospital. MASH is one of eight Methodist/HCA Healthcare System hospitals operating in San Antonio, and the area’s third largest private employer with 8,118 employees.

Equity Inc., an Ohio-based real estate development, brokerage, construction and property management company, will be responsible for overseeing minor interior and exterior upgrades as well as managing and leasing the property from its Austin office. “We feel Equity Inc. did a great job getting this building tied up at an attractive price. Equity’s ability to gain control of the asset off market created an excellent opportunity for our firm to invest in a quality MOB, in a healthy market, at a cost well below replacement,” said David Gregory, one of 2GR Equity’s principals. This is 2GR Equity’s second acquisition in the San Antonio market in fourth quarter 2014. The company previously made a joint venture investment in the development of a 138-room Hilton Garden Inn, including an attached 12,000-square-foot conference center. The deal is the 15th transaction closed by 2GR Equity since its formation in March 2011. The firm has now provided joint venture equity on commercial real estate transactions representing $145 million in total capitalization.

Betty Dillard bdillard@bizpress.net  

Latest News

Corinth, Prattco acquire additional business park buildings

To Date, The JV Partnership has invested $50 million in Almost 700,000 SF of North Texas Industrial Space With...

Real Deals: Properties sold, leased

SALES Marcus & Millichap (NYSE: MMI) has sold Aero, a 200-unit apartment property in Fort Worth. Al Silva,...

Gateway opens mortgage center in Keller

Gateway Mortgage Group, a division of Gateway First Bank, has opened a new mortgage center in Keller. The...

Logistics firm takes industrial space near DFW Airport

E&A TransPros Inc., an Illinois-based logistics firm, has landed in 19,643 square feet of industrial space, expanding at a new location closer...

400 acre site sold in Cedar Hill, Midlothian for homes, commercial development

 The site’s rolling terrain with changes in topography up to 300 feet allows the future master-planned community to feature spectacular views in...