February 7, 2018
New York-based Norvin Healthcare Properties acquired the five-building Pin Oak Portfolio in Houston’s Bellaire suburb from a partnership between Investcorp and Griffin Partners. The purchase price was undisclosed.
Pin Oak is located 3.5 miles from the Texas Medical Center. The 504,609-square-foot portfolio is 93% leased, 58% of which is to medical tenants, including Frost Bank, UT Physicians, Memorial Hermann Health System, Methodist Hospital, Texas Children’s Hospital, Kindred Healthcare and McGovern Allergy and Asthma Clinic.
The acquired buildings include 6700 W. Loop South, 6750 W. Loop South, 6800 W. Loop South, 4710 Bellaire Blvd. and 4747 Bellaire Blvd. Norvin plans to renovate and upgrade common areas, building lobbies, outdoor plazas, parking garages, roofs, and building and life safety systems
JLL represented the seller.
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