MCKINNEY, TX-Less than a week after announcing a construction launch for the $70 million Victory Medical Center in Fort Worth, Victory Healthcare announces its acquisition of the 113,000-square-foot Hospital at Craig Ranch from developer HealthCap (formerly Cirrus Group). The healthcare real estate was bought in partnership with Forge Realty Partners, and will be remodeled as a 58,000-square-foot hospital and a 56,000-square-foot medical office building.
Located at 6045 Alma Rd., Victory Medical Center Craig Ranch will include a four-bed intensive care unit, 20 private suites, seven operating rooms and three special procedures rooms. The acquisition is Forge Realty Partners' first. The sales price for the five-year-old buildings was unavailable, though the Collin County Appraisal District values the property at $26.8 million. Craig Ranch is a 2,200-acre, master-planned community located approximately 30 miles north of Dallas.
The surgical hospital is The Woodlands, TX-based Victory Healthcare's eighth location in Texas. According to Victory's chairman and CEO Robert N. Helms Jr., the company continues to seek out promising locations and is approached by developers. "We could see an additional location or two in the DFW market, in particular, South Arlington, so Victory would have good geographic coverage," Helms tells GlobeSt.com.
Craig Ranch, at this time, only has handful of outpatient centers and medical practice locations. But Victory Medical Center in Fort Worth is near plenty of other competition. This is the city's Medical District, which holds well-known hospitals ranging from Harris Methodist-Downtown, to John Peter Smith, to Baylor.
But Helms says Victory Medical Centers are different. "What sets us apart is our commitment to personalized service for all patients, including a one-to-one staffing-to-patient ratio that isn't found in larger hospitals," he says.
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