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The Heights Healthcare Facility to Get Upgrades

The segment of the population at or beyond 65 is growing at a rate 14 times faster than those aged 64 or younger and this demand for healthcare services means more workers, making space much tighter in some markets.

The Heights MOB A $28 million first mortgage loan was collateralized by a 191,676- square-foot class-A medical office building. 

HOUSTON—The Heights is a historic section of the city, abundant in commercial amenities and popular with residents and visitors alike. Originally conceived in the late 19th century as Houston’s first master-planned community, The Heights area has retained its historic character and neighborhood feel despite Houston’s lack of official zoning restrictions.

Within this neighborhood, Madison Realty Capital closed a $28 million first mortgage loan collateralized by a 191,676-square-foot class-A medical office building. The borrower, a joint venture of two Houston-based medical office development firms, used a portion of the loan proceeds to refinance previous debt, and the remainder will be utilized for building renovations and tenant improvements within the property located at 1917 Ashland St.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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