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Kingwood Medical Arts The property is anchored by a 30,000-square-foot surgical center and other medical facilities.

HOUSTON—In 2012, Chicago-based real estate private equity firm, Origin, with its Transwestern operating partner, acquired the defaulted note for Kingwood Medical Arts from Canadian Imperial Bankof Commerce at a discount, and nine months later, acquired the property through a bankruptcy trustee sale. Prior to the acquisition, Origin and Transwestern reinstated a 15,000-square-foot lease to a physician group that previously vacated the property due to a dispute with the original owner. This resulted in an immediate 15% increase in the occupancy of the property located at 300–350 Kingwood Medical Dr.

Once the property was acquired, the partnership retained Transwestern to provide leasing and management services. Carter and Brandy Bellow Spinks executed new leases to nearly double occupancy, from 52.5% to 90%. During the time of Origin’s ownership, net operating income increased an average of 5.8% annually.

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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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