Navigation Links
Oaks Development Group Acquires Medical Office Building in Austin, Texas
Date:4/2/2008

AUSTIN, Texas, April 2, 2008 /PRNewswire/ -- North Carolina-based Oaks Development Group announced today the company has closed on Post Oak Center North Bldg. 1 on Park Bend Drive behind St. David Medical Center in Austin, Texas. A 29,724-square-foot Class A medical office building, Post Oak Center North is being converted to Oaks' unique tenant-ownership model.

Oaks' hybrid structure is set up as a single purpose limited liability company (L.L.C.). Tenant partners split ownership interest of 50 percent of the L.L.C. based on how much space they occupy. While there is no capital outlay required for pro rata ownerships, tenant partners have first right of refusal to acquire an additional 25 percent ownership through equity investment. Oaks Development Group retains the last 25 percent of ownership and is responsible for professionally developing and asset managing the property long term. Tenant partners receive distributions of operations profits as well as profits obtained through refinancing.

"The Oaks Development model is a stable opportunity for physicians to build equity in their building without cash upfront," says Kerry Angus, Oaks partner. "In partnering long-term with established medical practices, Oaks manages the property for them -- and for maximized returns."

As a testament to Oaks' long-range vision, the company has built and acquired 42 assets and retained them all in its portfolio. Over the years, Oaks has carefully structured its model to minimize costs and maximize returns on the assets it owns with its partners.
Such refinements include:

-- limiting partner risk by starting to build only after 50 percent of the

building is pre-leased;

-- requiring a minimum of five parking spaces for every 1,000 square feet

of building;

-- focusing on properties without restrictions or other limiting covenants

that would prevent the provision of ancillary services by tenants;

-- multi-tiered exit strategies;

-- nesting of complimentary professions to create synergy, increased

patient flow and natural referrals within the project; and

-- designing buildings and practice combinations that enhance patient

care.

The company has found the model works equally well for new construction as well as in the acquisition of existing facilities.

"This concept relieves doctors of having to take time away from their practices to manage property, while still giving them tax benefits and investment income," says Eric Perardi, developer in Oaks' Austin office. The beauty, he adds, is that when doctors can focus on what they do best, they are the ones creating value in the asset. "Shouldn't they also be the ones to benefit?" he says.

MSL Investments principal Sarah Teel is exclusive broker for Oaks' projects in Texas. Teel can be reached at 210-524-8190 or sarah@mslinvestments.com.

About Oaks

Oaks Development Group, http://www.oaksdevelopment.net, is a private equity funded real estate investment group specializing in the acquisition, construction, conversion, restructuring and management of medical/professional properties to achieve a consistent long term and stable return for private investments. The Oaks model involves strategically sharing equity in transactions with individual tenants. Oaks Development Group is headquartered in Cary, North Carolina; with offices in Boston; Chicago; Miami, FL; Austin, TX; Savannah, GA; Tampa, FL; and Wilmington, NC.


'/>"/>
SOURCE Oaks Development Group
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Business of drug development on verge of great change
2. Senetek PLC Announces North American Partner for Invicorp(R) Secures Financing for Advancement of Marketing and Development Efforts
3. PPD Names Mike Wilkinson Executive Vice President of Global Clinical Development
4. Medical Marketing Veteran Signs on as Director of Strategy and New Business Development at Active Imagination
5. Key factor in brain development revealed, offers insight into disorder
6. Caring.com Adds Vice President of Business Development
7. Hiemstra Appoints Daniel C. Rosenman as Vice President of Research & Development
8. Ardea Biosciences Reports Progress of Clinical Development Programs; Provides 2008 Outlook; Announces 2007 Financial Results and Provides 2008 Financial Guidance
9. Families Play a Role in the Development of Eating Disorders
10. On The Go Healthcare Sells VAR Business to Wireless and Internet Space Development Leader FTS Group
11. Prize or patent? Innovative ideas for funding medical drug development and access
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... (PRWEB) , ... March 28, 2017 , ... ... leading physicians, Paul Yost, will begin serving as new board chair for Orange ... month. Yost will serve the remainder of soon-to-be former chair Mark Refowitz’s term, ...
(Date:3/28/2017)... ... March 28, 2017 , ... In its ongoing effort ... has recently developed and published an informational resource that addresses frequently asked questions. ... common inquiries the site’s team of third party administrator (TPA) contributors regularly receives ...
(Date:3/28/2017)... ... March 28, 2017 , ... Prominant bariatric surgeon ... is thrilled to offer the recently FDA-approved Obalon Balloon System to his patients. ... SkyLex Advanced Surgical’s already comprehensive list of weight-loss services. Dr. Liu is ...
(Date:3/28/2017)... ... 2017 , ... Oily skin is a common and unwelcomed occurrence in people of all ages, ... to offer to the discussion of dealing with excess skin oil. “Oily skin is a ... remedies that can help remove the oily shine while keeping the skin fresh and clean,” ...
(Date:3/27/2017)... Aurora, CO (PRWEB) , ... March 27, 2017 , ... ... Dr. Mark Braasch for leading sleep apnea treatment, with or without a referral. Sleep ... the condition, which can include daytime sleepiness, morning headaches and chronic snoring. , ...
Breaking Medicine News(10 mins):
(Date:3/28/2017)... , March 28, 2017  Akcea Therapeutics, a subsidiary ... to the company,s board of directors: ... Partners. Mr. Gabrieli will serve as chairman of the board ... former chief commercial officer of Forest Laboratories. ... Biolink Partners. "We are excited to ...
(Date:3/28/2017)... 28, 2017 RXi Pharmaceuticals Corporation (NASDAQ: ... that address significant unmet medical needs, today announced ... Japan Patent Office (JPO) for the composition of ... (CTGF) for the treatment or prevention of fibrotic ... and proliferative retinopathy (Japanese Patent #: 6060071).  This ...
(Date:3/28/2017)... , March 28, 2017  Medeon Biodesign, Inc., ... company, is pleased to announce that the Company ... of Panther Orthopedics, Inc., a San ... fixation solutions for orthopedic extremity applications.  ... expand rapidly, primarily due to procedure volume growth, ...
Breaking Medicine Technology: