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C O M P A N Y N A M E | W W W .Y O U R S I T E . C O M
CENTRAL TE XAS
CENTRAL TE X AS
MOB Portfolio
C O M P A N Y N A M E | W W W . C O M P A N Y N A M E | W W W .
TENANT PROFILE
The Tenants within the Portfolio are Pain Specialists of America, LLC (dba Pain Specialists of Austin), PSA Ambulatory Surgical Center of Austin, LLC and PSA Ambulatory Surgical Center of Killeen, LLC, which are all entities under PSA Group Holdings, LLC. PSAG is the full lease guarantor for all Leases associated with the Properties and is a private equity backed national roll-up of pain management practices. The controlling partner for PSAG is CommonView Capi-tal and current Limited Partners include Pain Spe-cialists of Austin and Central Texas Pain Center. CommonView Capital is a middle market private eq-uity firm focused on making growth investments in burgeoning healthcare industries. Pain Specialists of Austin and Central Texas Pain Center are region-al pain management practices with a combined 20 offices across Texas. PSAG intends on becoming the dominant pain management practice in the Unit-ed States through additional practice acquisitions.
THE OFFERING
Newmark Knight Frank (“NKF”) has been retained on an exclusive basis with respect to the disposi-tion of the CRT Capital Partners NNN MOB Portfo-lio (the “Transaction”), which consists of three (3) medical office buildings and condos (individually the “Property” and collectively the “Properties”, or the “Portfolio”) located in Austin, TX and Killeen, TX. The Portfolio is 100% net leased and is com-prised of approximately 16,900 rentable square feet of high-quality medical office space located in one of the fastest growing metros in the United States. Leases are guaranteed by PSA Group Holdings, LLC (“PSAG”), a growing national pain management or-ganization, and boasts ten-year lease terms and stable cash flow with annual 2.5% escalated rent growth. The Portfolio is being offered free and clear.
PROPERT Y OVERVIEW
TOTAL GLA (SF)16,900
LEASE TERM10 YEAR
YEAR ONE NOI$484,800
OCCUPANCY100%
ESCLATIONS2.5%
Property Address StoneGate Two, Bldg 32500 W William Cannon
Arbors at Creeks Edge III4100 Duval Rd
2701 E Stan Schluetter Loop
City, ST Austin, TX Austin, TX Killeen, TX
GLA (SF) 2,000 9,000 5,600
Year Built 2009 2002 2017
Uses Medical Medical Medical
Ownership Type Condo Condo Fee Simple
Occupancy 100% 100% 100%
WTD. Avg. Lease Term 10 years 10 years 10 years
Year 1 NOI $57,478 $266,398 $160,124
Annual Escalations 2.5% 2.5% 2.5%
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2
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C O M P A N Y N A M E | W W W .Y O U R S I T E . C O M
SOUTH AUSTIN
High Density Residential with AHHI of $88,639
Low Vacancy Rate, High Demand Medical Environment
High Growth Submarket with 18.46% Population Increase since 2010
Total Healthcare Spend of $152M within 5 mi radius
HIGHLIGHTS
2500 W William Cannon Dr.This is a 2,000-square-foot medical office condominium that is currently 100% leased by Pain Specialists of America, LLC on a ten (10) year lease term with a guaranty from PSA Group Holdings, LLC. The condo is lo-cated on the second floor of a 10,481 square foot medical office building within an eight (8) building MOB campus in the residential-ly-dense South Austin submarket. Current three-mile population is 129,708 and is expect-ed to grow by 10.87% over the next five years.
SOUTH AUSTIN
WILLAIM CANNON DROCCUPANCY100%YEAR BUILT2009
YEAR ONE NOI$57,478
ESCLATIONS2.5%
CONDO2,000 SF
LEASE TERMS10 YEAR
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C O M P A N Y N A M E | W W W .Y O U R S I T E . C O M
HIGHLIGHTS
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4100 Duval Rd.This is a 9,300-square-foot medical office con-dominium that is currently 100% occupied with 50% leased by Pain Specialists of America, LLC and 50% leased by PSA Ambulatory Surgical Center of Austin, LLC on ten (10) year lease terms with guaranties from PSA Group Holdings, LLC. The condo is the entirety of Building 3 within a four building MOB campus in the residen-tially-dense North Austin submarket. Current three-mile population is 111,372 and is expect-ed to grow by 10.99% over the next five years.
NORTH AUSTIN
High Density Residential with AHHI of $90,146
Strategically Located Between HCA and Ascension Hospitals
High Growth Submarket with 17.76% Population Increase since 2010
Total Healthcare Spend of $153M within 5 mi. radius
HIGHLIGHTS
734
OCCUPANCY100%YEAR BUILT2002
YEAR ONE NOI$266,398
ESCLATIONS2.5%
CONDO9,300SF
LEASE TERMS10 YEAR
2
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C O M P A N Y N A M E | W W W .Y O U R S I T E . C O M
KILLEEN
Strategically Located Between Three Hospitals
High Growth Submarket with 16.35% Population Increase since 2010
One of Only Three Ambulatory Surgery Centers in Killeen (Population 143,400)
Vibrant Military Community nearby Fort Hood
HIGHLIGHTS
2701 E. Stan Schlueter LoopThis is a 5,600-square-foot freestanding med-ical office building that is currently 100% oc-cupied with 50% leased by Pain Specialists of America, LLC and 50% leased by PSA Ambu-latory Surgical Center of Killeen, LLC on ten (10) year lease terms with guaranties from PSA Group Holdings, LLC. The freestanding MOB is located on a main thoroughfare off I-14. Current three-mile population is 69,736 and is expect-ed to grow by 6.85% over the next five years.
KILLEEN
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439
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2410
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3431
E STAN SCHLUETER
LOOP
OCCUPANCY100%YEAR BUILT2017
YEAR ONE NOI$160,124
ESCLATIONS2.5%
FEE SIMPLE5,600SF
LEASE TERMS10 YEAR
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C O M P A N Y N A M E | W W W .Y O U R S I T E . C O M
CENTRAL TE XAS
W W W. NGK F.COM
JESSE WEBERSenior Managing Director
MARKET CONTACT
CENTRAL TE X AS
MOB Portfolio
