NORTHWEST MEDICAL

Medical Office Building

HOUSTON, TX

 

i3 closed on the acquisition of the Northwest Medical Center Medical Office Portfolio in December of 2015. The three-building, 202,978 square foot portfolio is located on the campus of the Northwest Medical Center that is owned and operated by HCA. The project was acquired at below-market occupancy and rental rates, and represents a significant value-add opportunity for i3. The hospital maintains a significant presence in our project and has made a commitment to the campus for years to come.

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The proximity of these buildings to the hospital being located “on campus” positions the project as a very attractive long-term investment. The phased-rehab plan is underway and will include updated lobbies, landscaping, corridors, bathrooms, elevators, and internal building components, that will be followed by a robust rebranding campaign. Transwestern will provide both leasing and property management services on behalf of the project.