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St. Mark's Medical Office Building Two St ST. MARK'S MEDICAL OFFICE BUILDING TWO ST. MARK'S PLACE | LA GRANGE, TX 78945 OFFERING MEMORANDUM DISCLAIMER ST. MARK'S MEDICAL OFFICE BUILDING Colliers International Brokerage Company (“Broker“) has been retained as the exclusive advisor and broker for this offering. TWO ST. MARK'S PLACE This Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily LA GRANGE, TX 78945 accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the Property. Although the information contained EXCLUSIVE INVESTMENT ADVISORY TEAM herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no GEOFF FICKE change in the business or affairs of the Property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification Executive Vice President of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an +1 972 759 7814 opportunity to inspect the Property will be made available upon written request to interested and qualified prospective Buyers. [email protected] By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, ZACK FICKE collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents. Vice President Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, +1 972 759 7854 reasonable attorney’s fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker’s fees or [email protected] finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller. The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding CHRIS HIGBIE the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or Associate obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the +1 972 759 7830 purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller’s [email protected] obligation thereunder have been satisfied or waived. The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the SYDNEY GONZALEZ public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, Senior Client Services Specialist that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except [email protected] to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker. SWARREN O'BARR No employee of seller or at the Subject Property is to be contacted without the written approval of the listing agents and doing so would be a Senior Client Services Specialist violation of this confidentiality agreement. [email protected] Broker has created cash flow projections for the Property using Argus Financial Software. Neither Broker nor the Seller make any representation, warranty or guaranty of the economic value of the Property through the cash flow projections contained in this Offering or the associated Argus computer files. Broker and their prospective buyers agree not to contact the tenants, their employees or customers of any business on the Property without prior permission from the Landlord. COLLIERS INTERNATIONAL | 2 EXECUTIVE SUMMARY ST. MARK'S MEDICAL OFFICE BUILDING Colliers International, on behalf of the Ownership, is pleased to exclusively offer the 100% occupied St. Mark’s Medical Office Building (the “Property”) situated at 2 St. Mark’s Place, La Grange TX. The office building is anchored by St. Mark’s Medical Center (SMMC) with 76% occupancy. The balance of the Property is tenanted by Austin Heart and Tru-Skin Dermatology. Residents from Fayette and Lee counties (133,500 population) visit SMMC for neurology, neurosurgery, podiatry, otolaryngology, urology, outpatient rehabilitation, audiology, and orthopedic care. As the only on-campus office building in La Grange, this Property is well positioned for continued occupancy and cash flow. The Property is a 31,203 square foot multi-tenant building, on-campus and adjacent to SMMC. The Property has 83.6 years remaining on a 99-year ground lease. As part of the ground lease, SMMC has a Master Lease Agreement that provides investors with stable cash flow through 2035 and a weighted average lease term (WALT) of 13.7 years. SMMC is a 501(c)(3) not-for-profit hospital and is an affiliate of Community Hospital Corporation (CHC), SMMC benefits from hands-on management from CHC. INVESTMENT HIGHLIGHTS • Average annual rental increases of 2.3% throughout the remainder of lease term(s) • Master Lease Agreement provides stable cash flow through 2035 with a current 13.7 year WALT • 83.6 years remaining on an original 99-year ground lease • Tenants offer diverse and critical patient care: Neurology, Neurosurgery, Podiatry, Otolaryngology, Urology, Orthopedic, Outpatient Rehabilitation, Audiology • On-campus to St. Mark’s Medical Center, a 65-bed hospital, providing complementary care and partnerships within practices (Austin Heart partners with SMMC cardiology imaging) COLLIERS INTERNATIONAL | 3 HOSPITAL PROFILE ST. MARK'S MEDICAL OFFICE BUILDING AREAS OF PRACTICE St. Mark’s Medical Center is the anchor tenant at 2 St. Mark’s YEAR BUILT • CARDIOVASCULAR Place, Occupying 23,616 SF (approximately 76% of the 2005 GLA.) St. Mark’s Medical Center (SMMC) is a not-for- profit • CARDIAC REHAB general medical/surgical hospital serving the needs of patients in the central Texas communities of Fayette, Lee, and some of Bastrop counties. The current hospital was built TELEPHONE NUMBER • EMERGENCY DEPARTMENT in 2005 to replace Fayette Memorial, a facility that was (979) 242-2200 built in the 1960’s and had become too small and outdated to • NEUROSCIENCE provide technological services, such as CAT scans, efficiently. Residents of Fayette and Lee counties raised over$4.9MM to • SLEEP STUDIES fund the building of the new hospital. HOSPITAL WEBSITE WWW.SMMCTX.ORG SMMC provides an array of comprehensive state of the • OBSTETRICS art healthcare services that range widely from surgical services, a birthing center and specialist care to cardiac • RADIOLOGY / NUCLEAR rehabilitation and general acute care services. St. Mark’s CMS CERTIFICATION # also offers a state of the art cardiovascular imaging 670004 • COMPUTED TOMAGRAPHY(CT) (located in the MOB) and is designated as a Level IV Trauma Center. • COMPUTATED TOMAGRAPHY SMMC is a member of the Community Hospital Corporation TYPE OF FACILITY ANGIOGRAPHY (CTA) (CHC), a family of over 23 community hospitals. CHC offers SHORT TERM ACUTE CARE efficiencies, buying power and leadership to strengthen, preserve and protect hospitals for their communities. • MAGNETIC RESONANCE St. David’s HealthCare, HCA is a clinical affiliate of St. TYPE OF CONTROL • IMAGING (MRI) Mark’s Medical Center. St. David’s, HCA joined forces with NONPROFIT St. Mark’s Medical Center in 2011 to meet the healthcare needs of the people of Lee and Fayette Counties and the La • PHYSICAL THERAPY Grange community. As a clinical affiliate, St. David’s, HCA HealthCare supports St. Mark’s clinical excellence and AFFILIATIONS/MEMBERSHIPS • SNF SURGERY provides access to its seven hospitals for specialty care. ST. DAVID'S HEALTHCARE, HCA Through Austin Heart (a St. David’s member practice), St. & COMMUNITY HOSPITAL David’s and St. Mark’s are partnered in the new cardio • INPATIENT SURGERY vascular imaging center located in St. Mark’s MOB. CORPORATION COLLIERS INTERNATIONAL | 4 TENANT OVERVIEW | ST. MARK'S MEDICAL CENTER ST. MARK'S MEDICAL OFFICE BUILDING TENANT OVERVIEW Rentable Square Feet 23,616 Suite(s) 100, 110, 120, 130, 150 Rent Adjustment 2% every year Renewal Options None Commencement Date 1/1/2006 (Suites 100, 110, 120, 140, 150) | 1/1/2020 (Suite 130) TENANT SUMMARY Lease Expiration Date 1/31/2035 St.
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