BASTROP, TX- Long View Equity Partners has acquired the 28,500-square-foot St. David's Emergency Center-Bastrop from Conner & Winters LLP, operating under the entity name Bastrop CRK LLC, of Oklahoma City. The building acquired by the Austin, TX-based buyer is 100% leased to St. David's HealthCare System, a subsidiary of HCA.
Scott Herbold, Chris Bodnar and Lee Asher of CBRE's U.S. Healthcare Capital Markets Group represented the seller.
The freestanding emergency center at 3201 SH 71 E in the southwest metro Austin region was once home to Lakeside Hospital, which was the city's only hospital when it opened in the mid-2000s. Lakeside Hospital closed its doors in November 2010. Then-building owner Kevin J. Owens of LHB Real Estate LLC filed for Chapter 11 in early 2011. St. David's took over the building and opened as an extension of its South Austin Medical Center in June, 2012.
The emergency center operates 24/7, featuring board-certified emergency room physicians, a staff of trauma- certified nurses, state-of-the-art equipment, a trauma room, advanced testing capabilities including radiological testing and a medical lab, CT scans, x-rays and ultrasounds.
“We are pleased to add this quality asset to our portfolio,” says Long View Equity Partners president Dustin Johnson in a press release. “The credit tenancy along with the asset's location in an under-served healthcare market makes this a solid investment for our income fund.”
The sales price for the transaction was not disclosed. Bastrop County Assessment District appraises the building at $3.4 million.
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