WEBSTER, TEXAS — Sila Realty Trust, a nontraded real estate investment trust based in Tampa, has sold the 199-bed UTMB Health Clear Lake Hospital in Webster, a southeastern suburb of Houston, for $258.1 million.
The University of Texas Medical Branch (UTMB), which is part of the larger UT healthcare system, occupies the 373,000-square-foot, acute-care hospital. The buyer was the Board of Regents of the University of Texas, which exercised a purchase option in the lease agreement.
In addition to multiple onsite dining options, a family lounge and a children’s play area, the hospital offers:
- Primary stroke certified center
- ICU/intermediate care beds
- Pre- and post-anesthesia care unit beds
- Private emergency rooms
- Trauma emergency rooms
- Operating rooms
- Interventional suites for cardiac procedures
- Interventional radiology/interventional neurology suites
- Endoscopy suites
Sila Realty Trust is using proceeds from the sale to pay down existing debt and to fund other general corporate costs.
“We are pleased to have executed the sale of the UTMB Health Clear Lake Hospital, which was a significant asset within our portfolio and one of our few owned short-term, acute-care hospitals,” says Michael Seton, president and CEO of Sila Realty Trust. “We anticipate expanding our high-quality, diversified healthcare portfolio into more outpatient and post-acute healthcare assets.”
— Taylor Williams