Virtus Real Estate Capital Announces Latest Acquisition of Two Distressed Class “A” Medical Properties - Virtus
Back
June 12, 2018

Virtus Real Estate Capital Announces Latest Acquisition of Two Distressed Class “A” Medical Properties

Virtus Real Estate Capital (“Virtus”), an industry leader in alternative real estate property types, announced today its most recent acquisition of two distressed medical properties in Webster, a high-growth upper middle income suburb of Houston, Texas.

AUSTIN, Texas – June 13, 2018 – Virtus Real Estate Capital (“Virtus”), an industry leader in alternative real estate property types, announced today its most recent acquisition of two distressed medical properties in Webster, a high-growth upper middle income suburb of Houston, Texas.

The two properties, 251 and 253 Medical Center, are both class “A” medical office buildings, located across the street from Hospital Corporation of America’s Clear Lake Regional Medical Center. As Webster serves as a central business and medical hub for the Houston area, this investment aligns with the Virtus investment strategy of sourcing high-quality properties in well-positioned submarkets.

“This acquisition bolsters Virtus’ medical office portfolio, a robust and cycle-resilient investment property type that is core to our firm strategy,” said Terrell Gates, Founder and CEO of Virtus. “Our team’s extensive knowledge and expertise in managing medical office communities will drive significant improvements to these properties and create compelling value propositions for prospective tenants.”

The acquisitions demonstrate Virtus’ ability to source high-quality properties at attractive valuations during a time when the medical office sector is richly valued. Virtus sees strong potential for higher occupancy, and has engaged in strategic partnerships with Lincoln Harris, a nationally recognized medical office operator, and CBRE Group, the world’s largest commercial real estate services firm, to assist in stabilizing and improving the properties.

“The fundamentals and long-term demographic trends support the investment thesis for medical office, but attractive deals are sparse,” said Robert Schweizer, Chief Investment Officer of Virtus. “The Webster acquisition is a perfect example of Virtus leveraging our industry expertise and network of relationships across niche property types to find true value for our partners.”

About Virtus
Virtus Real Estate, LLC, founded in 2003, brings thoughtful stewardship to the practice of real estate investment, delivering non-correlated alpha via cycle-resilient real estate.  Over the last 15 years, Virtus has acquired 194 properties for a combined acquisition value of over $3.2 billion, and has fully realized 151 property investments. With a strong and established track record, Virtus has proven to be successful in all phases of the market cycle. For more information, please visit www.virtusre.com.

Disclaimer

This communication is not an offer of any security nor the solicitation of an offer to purchase any security.

Quick Navigation

    You May Also Like

    • December 9, 2024

      C1 Managing Director – Development

      Read More
    • November 12, 2024

      Executive Assistant to CEO

      Read More
    • February 6, 2024

      Investment Analyst/Associate

      Read More
    • January 8, 2024

      Virtus Presents: The 2024 U.S. Real Estate Outlook

      It has been many years since there has been a more dramatic change in commercial real estate ("CRE") markets.  The unprecedented interest rate increases from the Great Tightening have had …
      Read More
    • January 31, 2023

      2023 U.S. Real Estate Outlook

      Virtus Presents: The 2023 U.S. Real Estate Outlook It’s been many years since there has been a more dramatic change in commercial real estate markets.  The unprecedented…
      Read More
    • December 12, 2022

      New Gateways for a New World

      Recent years have seen immense investment interest in rapidly growing markets outside the general Tier-I “Gateway” commercial real estate markets.  However, with a climate of renewed uncertainty and In this whitepaper, Virtus explores the case for a new class of markets that have benefited from patterns in demographic growth, regulatory policy, and technological advancement over a much longer…
      Read More
    • November 16, 2022

      Virtus Real Estate Capital and Almanac Realty Investors Announce Strategic Minority Investment

      Transaction marks the second minority GP stakes investment from a fund managed by Almanac and will support Virtus’ continued growth…
      Read More
    • May 31, 2022

      The Effects of Climate Change on Real Estate Investments

      The impact of climate change on commercial real estate markets has long been underappreciated due to the pervasiveness and time distance of expected effects. However, that sentiment is beginning to…
      Read More
    • May 16, 2022

      The Rising Popularity of Alternative Asset Classes in Core Portfolios (Alts on the Rise)

      Despite challenges in accounting for returns and benchmarking performance, alternative asset classes offer defensive or yield-oriented core strategies associated with large institutions along with lower macroeconomic and real estate…
      Read More
    • January 13, 2022

      2022 U.S. Real Estate Outlook

      2022—The best of times and the worst of times Like many of you, we welcome the arrival of 2022.  But, despite the euphoric backdrop of most asset classes, pervasive…
      Read More