SAN ANTONIO – Long View Equity Partners has purchased the Christus Santa Rosa Physicians’ Ambulatory Surgical Center in New Braunfels, TX. FREP New Braunfels LLC sold the property for an disclosed sum but sources say the price was “in-line with investment-grade tenants halfway through their lease term.”
“We are excited to add the Christus Santa Rosa Physicians’ ASC to our growing real estate portfolio,” says Long View Principal Todd Caven. “This is a perfect fit for our healthcare fund and fantastic opportunity to expand our presence in the growing Texas healthcare market.”
The property is fully occupied by a between Christus Santa Rosa and a number of physicians.
“Investment grade, net leased ambulatory surgery centers (ASCs) are in very high demand by all investor profiles,” says Scott Herbold, with CBRE’s Investment Properties group, who represented the seller. “The specialists that occupy ASCs are among the most profitable and are typically less likely to be acquired by hospital systems. Furthermore, ASCs continue to prove they are a low-cost high-quality healthcare option.“
Located at 1738 East Common St., the 18,855-square-foot outpatient facility sits between the Christus Santa Rosa Hospital and Tenet Healthcare’s under-construction Resolute Health Hospital. The new hospital will open later this year and Herbold says it is already drawing practitioners from San Antonio, San Marcos and Austin.