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Austin, TX

South Lamar Medical Center

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Property Overview

The Opportunity

South LamarMedical Center was the off-market acquisition of a vacant 110K SF former retail and office building for renovation and repositioning into South-CentralAustin’s premier medical office. Thanks to key relationships and an aggressive marketing strategy that began while BCP was evaluating the opportunity, the investment benefited significantly from a same-day concurrent close with a 31KSF medical surgery center and a 10K SF dermatology clinic, creating a profit for BCP on the day of acquisition. Given the vast number of parties involved in completing a 4-party transaction involving the seller, BCP as buyer and seller, and the two condo buyers (each with independent legal counsel and lenders), this was a complicated and rewarding transaction to coordinate.

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Competitive Advantage

Lessons Learned

Property Location

Documents & Financials

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Investment Summary

Property Type:
Medical Office
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Strategy:
Renovation and Reposition
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Address:
4544 S. Lamar Blvd, Ste. 600, Austin, TX 78745
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Investment Date:
June 6, 2024
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Est. Hold Period:
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Total Capitalization:
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Investor Preferred Return:
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Property Type:
Medical Office
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Strategy:
Renovation and Reposition
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Address:
4544 S. Lamar Blvd, Ste. 600, Austin, TX 78745
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Investment Date:
June 6, 2024
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Disposition Date:
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Hold Period:
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Realized IRR:
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Total Capitalization:
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Loan To Cost Ratio:
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Exit Cap Rate:
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Realized Investor Return:
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Property Type:
Medical Office
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Strategy:
Renovation and Reposition
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Address:
4544 S. Lamar Blvd, Ste. 600, Austin, TX 78745
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Investment Date:
June 6, 2024
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Disposition Date:
N/A
Hold Period:
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Total Capitalization:
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Loan To Cost Ratio:
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Cap Rate at Close:
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Realized Investor Return:
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Investment Summary

Property Type:
Multifamily
Realized IRR:
14.35%
Realized Equity Multiple:
2.15x
Hold Period:
6.5yrs
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