Plano TX Medical Building Investment 5

Prestonwood Medical Center is a Class A facility with 77,800 SF medical office with suites available from 2,000-32,000 sqft located in the upscale Prestonwood neighborhood of Plano, TX. New ownership is repositioning the tenant mix of the property with a focus on identifying synergistic tenants so as to facilitate each tenants success.The building is in very good condition but ownership is making additional improvements to ensure that tenants visitors feel welcome and have a good experience when visiting their medical provider.

Building in excellent condition
Little to Zero Tenant improvement required as many suites are move in ready
Various sizes from 2,000 to 32,000 sf available
New ownerships low cost basis means rents are below market
Significant effort to ensure synergies exist between each Tenant
Opportunity for Tenant to invest in building ownership
Abundant parking and ease of access for staff and patients
Private parking for doctors
Minutes from Dallas North Tollway (DNT) and George Bush Hway
Close to Major Health Systems: 1 mile Presbyterian Hospital, 2 miles Carrolton Medical Center, 4 miles Baylor Plano, 5 mile Medical City Plano

Off market institutional sale at significantly below last purchase price
Last owner paid $28.5M and current tax assessed value is $20.5M!
9.31 acres of land in a prime location in West Plano and one could argue that we are paying land value.
Well below replacement cost with in-place cash flow yielding 7.25% CAP at 45% occupancy in an all cash transaction.
At 85% occupancy will stabilize at a 14%+ CAP Rate.
Post stabilization sharia compliant financing should return equity thus de-risking our equity position.
Year 7 sale provides 26% IRR.
Interior condition is good second generation medical space and some suites are move in ready with some in Class A condition

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