X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Following an intense competitive process, PM Realty Group emerged the victor. The prize: the leasing and management assignment for a14-property medical portfolio owned by Healthcare Trust of America Inc.

The portfolio is made up of medical office and long-term acute care facilities in Texas, Oklahoma, Kansas, California and Missouri. The portfolio totals 977,000 square feet. Grubb & Ellis Co. had the previous leasing and managing assignment for Healthcare Trust of America, which was formerly Grubb & Ellis Healthcare REIT Inc.

“We fought hard for this portfolio. We wanted this badly,” says Jimmy Gunn, president of PM Realty Group’s property management services group. “(Healthcare Trust of America) is a company not constricted by having to borrow money to acquire assets, and they’re focused on the class-A healthcare facilities.”

Gunn tells GlobeSt.com that the portfolio is well-occupied, and PM Realty Group’s job is to keep them that way. Furthermore, “We have a cadre of folks dedicated to this business,” Gunn remarks. “There will be ongoing capital improvements to these assets. As time goes on, capital expenditures will include anywhere from parking lots to new roofs.”

Though Gunn didn’t cite specific occupancy or tenant roll, he notes that economic times mean some of the tenants in the portfolio are shifting space. “The economy has driven some folks, some doctors who were private practitioners, to join a group, so there are definitely some leasing opportunities in most of the medical buildings,” he says. “The long-term acute hospitals and assisted living centers, we don’t anticipate much infill to be done there.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.