Advanced Diagnostics Hospital East, Houston

February 8, 2017 Comments Off on Tennessee Company Invests in Houston Hospital Views: 155 Houston-Galveston, Texas News

Tennessee Company Invests in Houston Hospital

MedEquities Realty Trust Inc., headquartered in Nashville, TN, invested $12.5 million in Advanced Diagnostics’ Hospital East in Houston. The investment is in the form of a newly originated interest-only loan.

Beginning Oct. 1, MedEquities will have the option to acquire the 23,300-square-foot hospital on 1.6 acres at 12950 E. Fwy. for $12.5 million, pursuant to a 15-year, triple-net lease at an initial annual lease rate of 9.6%. The loan matures on Feb. 1, 2018, with automatic extensions to Sept. 30, 2019, if MedEquities doesn’t exercise its purchase option.

Advanced Diagnostics Hospital East is a short-stay and outpatient surgical hospital that serves the East Houston area. “This investment is an attractive addition to our portfolio, and we are looking forward to potential future transactions with the company in other markets as they expand,” said MedEquities’ CEO and Chairman John McRoberts.

Read More at PR Newswire

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