Navigation Links
Oaks Development Group Closes on Third San Antonio Project
Date:12/9/2008

SAN ANTONIO, Dec. 9 /PRNewswire/ -- The Texas office of Oaks Development Group announced today the company closed on Shavano Oaks II, a 35,000 square-foot medical office building at 3603 Paesanos Parkway in north central San Antonio. The site, located just east of the intersection of Loop 1604 and Northwest Military Highway, will feature the company's unique tenant-ownership model that divides ownership of the building among the tenants, equity investors and the developer.

This is Oaks' third project in San Antonio. The building is ready for occupancy, and the company has received commitments for about 85 percent of the building with signed leases and letters of intent. Tenant owners include the Neurology Institute of San Antonio with Dr. Suzanne Gazda and Dr. R. Braden Neiman and the Spine & Pain Center of San Antonio with Dr. Dennis Karasek. There are also plans for a physical therapy, a sleep clinic and imaging on site, according to Sarah Teel of MSL Investments, broker/real estate agent for Oaks Development Group in Texas. "The building is in a convenient location with an easy flow to hospitals in both the medical center and Stone Oak," said Teel. "With its beautiful 'lifestyle' environment and strong tenant owner mix, only a small amount of space remains available."

The Oaks model is unique in that tenants acquire their ownership without an outlay of capital. "Oaks' structure provides tenant owners 50 percent of the building's ownership based on the size of their space," said Eric Perardi, developer in Oaks' Texas office. Tenant partners receive pro-rata distributions from operations and refinancing as the value of the investment increases over time. "As a partner in the deal, we remain involved long-term, professionally managing the asset," he added.

As a testament to the company's long-range vision, Oaks Development Group has built, acquired and retained in its portfolio more than 40 assets with approximately 1.55 million square feet, valued in excess of $245 million. "The model has been structured and refined to minimize costs and maximize returns in a tax efficient manner for its partners over the long term," added Perardi.

    Such refinements include:
    -- Maintaining a project risk profile lower than similar commercial real
       estate;
    -- Maximizing available exit strategies;
    -- Providing equal or better than market rates of return; and
    -- Providing complete separation between the operations of the tenant's
       practice and the ownership in the building.

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

"Our approach relieves doctors of having to take time away from their practices to manage property, while still offering tax benefits and investment income," said Kerry Angus, partner in Oaks' Texas office. "We believe when doctors focus on what they do best, they create value in the asset. Shouldn't they be the ones to benefit?" he adds. "Getting Shavano Oaks II financed on attractive terms in the toughest credit market in decades is a testament to the strength of our ownership structure and our track record," said Angus.

Oaks also holds property in The Medical Center and Westover Hills. Both have space available for physicians and other business professionals who want to own their own building but be able to focus on their practice, rather than facility management.

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; San Antonio, TX; Austin, TX; Savannah, GA; Tampa, FL; and Wilmington, NC.


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

Related medicine news :

1. Aimed at Medical Device Makers, FDA Software Development Company Full Spectrum Releases Free Technical Report on Software Protection Technology
2. Promising trials of malaria vaccine lead to calls for Phase 3 development
3. Arena Pharmaceuticals to Host Research & Development Day on December 15, 2008
4. Dr. Jonathan White Joins Haemonetics as Head of Research and Development
5. LSUHSCs England leads development of new testing guidelines for common nerve disorder
6. Siskin Center for Child and Family Research to Focus on Early Childhood Development and Special Education
7. Ingenious Med Hires New CEO to Maintain and Further Expand Company Development
8. BioNanomatrix Appoints Gary Zweiger, Ph.D., as Vice President of Business Development
9. 109 Medicines and Vaccines Now in Development for HIV/AIDS
10. USC researchers identify novel approach for suppressing prostate cancer development
11. Law Offices of Howard G. Smith Announces Class Action Lawsuit on Behalf of Investors of PharmaNet Development Group, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned ... the David Geffen School of Medicine at UCLA. He trained in Internal Medicine at ... fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from PsychTests.com reveals that behind the tendency ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is ... associated with chronic pain and the benefits of holistic treatments, Serenity Recovery Center ... suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder of ...
(Date:6/24/2016)... ... 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida ... their peers for this recognition are considered among the top 2 percent of lawyers ... as members of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark ...
(Date:6/24/2016)... ... ... Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair ... hour by 2020 and then adjusting it yearly to increase at the same rate as ... the wage floor does not erode again, and make future increases more predictable. , The ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
(Date:6/23/2016)... 23, 2016 Bracket , a leading clinical ... generation clinical outcomes platform, Bracket eCOA (SM) 6.0, at ... 26 – 30, 2016 in Philadelphia , ... Outcome Assessment product of its kind to fully integrate with ... Bracket eCOA 6.0 is a flexible platform for electronic clinical ...
(Date:6/23/2016)... -- Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with operations headquartered in ... . ... ... ... Astellas is ...
Breaking Medicine Technology: