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:10/13/2017)... ... October 13, 2017 , ... ... process to promote standards of excellence for the field of eating disorders, announces ... 22 – 25, 2018 in Orlando, Florida at the Omni Resort at ChampionsGate. ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... ‘17, and Jennifer Huggins, PharmD ’17, along with clinical associate professor Janice ... of cardiovascular diseases during the 15th Annual Women’s Health Conference. The SIU ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton Lakes , which specializes ... of the facility as part of a disaster drill on October 3rd. , Apple ... Shelton City Emergency Manager, as well as the Connecticut Long Term Care Mutual ...
(Date:10/13/2017)... ... ... The Visiting Nurse Association (VNA) of Somerset Hills is proud to host ... items from across the nation, this holiday-themed event will raise funds and awareness for ... The boutique will be open Saturday, November 4 (10:00 a.m. – 5:00 p.m.) ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th Annual Kids ... Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, ... run is geared towards children of all ages; it is a non-competitive, non-timed event, ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... , Oct. 12, 2017 West Pharmaceutical ... innovative solutions for injectable drug administration, today announced that ... market opens on Thursday, October 26, 2017, and will ... and business expectations at 9:00 a.m. Eastern Time. To ... 253-336-8738 (International). The conference ID is 94093362. ...
(Date:10/11/2017)...  True Health, a leader in integrated diagnostics ... National Breast Cancer Awareness month to educate doctors ... Research recently published in ... than 10 million American women are at significant ... BRCA2 and have not had testing. These mutations can ...
(Date:10/10/2017)... Pa. , Oct. 10, 2017   West ... in innovative solutions for injectable drug administration, today shared ... West,s ID Adapter for improving the intradermal administration of ... Fourth Skin Vaccination Summit in May 2017 by Dr. ... Lead, Polio Department, World Health Organization (WHO), and recently ...
Breaking Medicine Technology: