College Well being’s Board of Managers voted to enter a $50 million deal to amass two medical towers subsequent to a shuttered CHRISTUS hospital within the South Texas Medical Heart. It may finally assist the county’s hospital system transfer extra of its ambulatory providers out of its primary hospital.
When College Well being bought CHRISTUS Well being’s Santa Rosa Hospital within the South Texas Medical Heart final summer time, it got here with 45 acres of land, together with a seven- and four-story medical workplace constructing subsequent to the hospital. The preliminary plan was for College Well being to personal the land however not the 2 buildings.
The towers, comprising 200,000 sq. ft of house, are adjoining to the vacant hospital that College Well being plans on reopening as Babcock Specialty Hospital in the summertime. A sky bridge connects one of many towers to the hospital.
“It is a once-in-a-lifetime alternative,” Board Member David Cohen mentioned. “There’s no new land coming into the medical middle. Having all of our operations and our individuals within the relative space of the hospital and all of our different operations appears to be probably the most environment friendly and fascinating solution to have that. And I don’t assume we’d ever get a chance to love this once more.”
Babcock is considered one of three hospitals College Well being is within the midst of opening in San Antonio, the others being the Palo Alto Hospital on the South Facet and the Retama Hospital in Northeast San Antonio.
At present, the medical towers are 89% occupied, a big portion of that being CHRISTUS clinics and practitioners, however College Well being officers count on lots of them to maneuver out as soon as their leases expire, opening extra alternatives for the hospital to decongest its providers at present centered at its primary hospital within the medical middle a number of blocks away.
College Well being’s Board of Managers unanimously authorised to enter right into a deal to buy the buildings on Tuesday night time. The deal is scheduled to shut by late February.
“You have a look at our campus immediately right here, I’m unsure now we have yet one more parking house accessible,” College Well being Board Chair Jimmy Hasslocher mentioned. “And I perceive there’s been some robust phrases over that over time. This buy … can be a significant milestone as we transfer ahead within the historical past of the Bexar County Hospital District.”
The chance for College Well being opened up as a result of the proprietor of the constructing, a gaggle of buyers working underneath “San Antonio MOB NW Medical Tower LLC,” determined to promote. College Well being had dibs on buying the buildings due to a proper of first provide provision within the unique property deal.
“The entire evaluation that we did over 20 years, these buildings carry on a optimistic money stream, so long as we will keep the stability of tenancy throughout the constructing,” mentioned Christa Olvera, director of actual property amenities at College Well being.
College Well being is trying to make use of the extra house for cardiology providers and testing for pre- and post-testing for transplant providers, College Well being president and CEO Ed Banos mentioned.
