A Washington, DC real estate investment trust has purchased a newly built health care clinic for veterans on the northwest side of San Antonio.
Easterly Government Properties last week purchased the 224,148 square foot, $ 18 million facility from US Federal Properties, based in Kansas City, Missouri.
The parties have not disclosed the purchase price.
The building, leased to the Department of Veterans Affairs, is located at 9939 US 151 in Westover Hills. Easterly said the purchase was part of a previously announced $ 635.6 million plans to acquire nine ambulatory care centers and a mental health clinic, all under long-term leases with the VA.
The Northwestern San Antonio Healthcare Center is slated to open this spring and will be the region’s third major VA facility, joining the South Texas Medical Center’s Audie Murphy VA Hospital and a site in Kerrville.
Nenette Madla, spokesperson for the South Texas Veterans Health Care System, said the agency will receive $ 5.93 million in rent in the first year and $ 8.42 million each following year under a contract to 20 years.
Newmark Group Inc., a New York real estate company representing US Federal Properties, said the three-story outpatient clinic is located near three hospitals.
“The new San Antonio VA clinic will serve the community in a centralized location, consolidating the existing services of several clinics,” Newmark vice president Gary Carr said in a statement. “The location in an expanding and developing area with access to major employment centers makes this an ideal location for the new VA center.”
Madla said the VA still determines the opening date.
The purchase of the outpatient clinic comes after Veterans Affairs Secretary Denis McDonough visited VA facilities in the San Antonio area last month as part of a nationwide tour.
McDonough said the South Texas veteran health care system is Virginia’s fastest growing network.
“What this means to us is that this health care system has grown by 15% in the past two years,” he said. “It will continue at this rate, we expect – at least at this rate over the next several years.”
Madla said the VA is also finalizing plans for a clinic in the Uvalde area and expanding other facilities in the San Antonio area.
As of November 2020, Easterly has purchased four VA leased properties, including facilities in Chattanooga, Tenn., And Lenexa, Kan. In October, it acquired the 120,916 square foot VA facility at Lubbock located near the Texas Tech University medical campus.
The San Antonio deal marks the fourth purchase of a company that is expected to be finalized by the end of 2023.
“VA-San Antonio is the largest of the VA portfolio assets to be acquired to date,” Easterly CEO William C. Trimble III said in a press release.
eric.killelea @
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