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Medical Properties of America Makes Back-to-Back Play in Acquisition Game

HOUSTON-Another Houston medical office property and one in San Antonio have been tossed into the melting pot of Nashville-based Medical Properties of America. The company has earmarked up to $100 million for buys in five Texas cities.

By Jennifer Brenner Andrade | Updated on January 29, 2001

HOUSTON-In keeping with its Texas expansion plans, Medical Properties of America has acquired more properties in the Lone Star State. This time, the medical office holdings are in Pearland, a south Houston suburb, and on the North Central Baptist Hospital campus in north San Antonio.

The Nashville-based company currently is investigating more than 65 Texas properties for prospective purchases, Phil Suiter, founder and executive vice president, tells GlobeSt.com. The company recently had received a commitment of up to $100 million of equity from New York-based Reckson Strategic Venture Partners LLC. The money is to be leveraged for the acquisition and development of more than $500 million in properties nationwide.

Medical Properties’ strategy is to pump $40 million in Houston acquisitions; $20 million to $25 million in San Antonio; $15 million in Dallas; $10 million in El Paso; and $5 million to $10 million in Austin. Medical Properties’ final goal is to own approximately 30 properties in Texas.

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