Texas + Healthcare | April 23, 2021

Rycore Capital Affiliate Solidifies Bellaire Med Plaza Buy

Bellaire Medical Plaza, a 58,517-square-foot medical office building near the Texas Medical Center in Houston, recently sold to an affiliate of Rycore Capital. The price was undisclosed.

Bellaire Medical Plaza is located at 5420 Dashwood Dr. within a designated Opportunity Zone and a thriving medical office market. The property is positioned five miles from the Texas Medical Center campus, which is considered the largest medical complex in the world with more than 50 million square feet of healthcare space and 106,000 employees.

The 88 percent-leased property is home to a mix of medical tenants with specialties in primary care, dialysis, pain management, ophthalmology, audiology and laboratory services. In addition, the three-story facility offers a walk-in health clinic and pharmacy. The property also includes a 3.67-acre parcel allowing for future development.

JLL represented the seller Ridgeline Capital Partners and procured the buyer. In addition, JLL worked on behalf of Rycore Capital to secure the acquisition loan. The JLL team representing the seller was led by Kevin McConn and Brian Bacharach.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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