Latest in String of Medical Developments for PM Realty Group DENISON, TX
- Officials with PM Realty Group (PMRG), a national, full-service commercial real estate firm, today announced the development and scheduled delivery date for Texoma Medical Plaza, the newest comprehensive medical complex in the Sherman/Denison area. Located at 5012 South U.S. Highway 75, its location on this main south/north thoroughfare conveniently allows it to serve Sherman/Denison and neighboring communities in Grayson County.
Texoma Medical Plaza offers 120,000 square-feet of high end on-campus medical space and presents an institutional quality experience for both physicians and their patients. Texoma Medical Plaza will be the medical office home to physicians from a variety of specialties and is adjacent to the newly constructed Texoma Medical Center.
The building is being marketed to single physician practices and multi-physician groups and is approximately 41% leased with executed letters of intent representing an additional 40%. The multi-story building will feature large floor plates of approximately 40,000 square feet.
"I believe access to quality medical facilities and patient care will be accomplished with our investment in the development of Texoma Medical Plaza. The new facility is a perfect complement to the newly developed hospital, Texoma Medical Center," says Glen Perkins, Executive Vice President and Managing Director of PM Realty Group's development team. "Our goal is to enhance patient comfort by creating a welcoming and soothing atmosphere within our Medical Office Building. The utilization of natural lighting combined with warmer color palettes promotes a sense of wellness for patients, as well as offers a pleasant work environment for physicians and their staff. This approach is consistent with our effort to build environmentally sensitive, LEED certified buildings."
"This state-of-the-art medical office building will offer a welcoming and attractive entrance to our new and expanding hospital campus," said Dr. Mackey Watkins, CEO of Texoma Medical Center. "We are excited to see a first-class complement to our first-class hospital."
The Texoma Medical Plaza project is a joint venture sponsored by Universal Health Realty Income Trust ("UHT") and PM Realty Group, LP.
The new Texoma Medical Plaza is slated to open in December 2009 running concurrent with the completion of Texoma Medical Center.
Kyle Libby, Vice President, and Ryan Dale, Leasing Manager, with PM Realty Group represent the landlord in leasing transactions. For leasing information, please contact Kyle Libby at (972) 528-1130, firstname.lastname@example.org
or Ryan Dale at (972) 528-1123, email@example.com
About Universal Health Realty Income Trust.
UHT is a real estate investment trust ("REIT") that was organized in August of 1986 to invest in healthcare and human service related properties including acute care hospitals, sub-acute care facilities, long-term care and assisted living centers, behavioral health centers, rehabilitation hospitals, ambulatory surgery centers, childcare centers and medical office buildings. As of December 31, 2008, UHT had approximately 7,000,000 invested in various real estate assets, mortgage loans, construction loans, limited liability corporations and limited partnerships. UHT's year end portfolio of forty-nine properties located in fifteen states included the ownership of three acute care hospitals, thirty-nine medical office properties, four childcare centers, one rehabilitation facility, one behavioral health center and one sub-acute care facility. For additional information, visit www.uhrit.com
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com