Caddis to Develop Medical Office Building in Flower Mound, TX
Tuesday, December 20, 2011 FLOWER MOUND, TX — Caddis Partners, LLC is pleased to announce the scheduled development of Flower Mound Health Plaza, a single story medical facility consisting of 42,000 square feet, in Flower Mound, TX. The construction financing closed December 16, 2011 with groundbreaking slated for January 2012.
Flower Mound Medical Plaza is anchored by six primary care providers across two different practices. In addition to the primary care physicians, the tenant roster included certain specialists and other ancillary medical services. Caddis will identify and recruit complementary tenants to occupy the balance of the space and will also provide management services once the building is operational.
Flower Mound Medical Plaza represents the sixth joint venture development between Caddis Partners and MedProperties Capital Partners, LP, a Dallas-based real estate private equity firm specializing solely in healthcare real estate. Physician investments comprised a portion of the project’s required equity with MedProperties providing the balance of the funds needed to close. The Dallas office of GSR/Andrade is serving as the project’s architect with Vratsinas Construction Company providing general contractor services.
Located on the northwest quadrant of FM 2499 and Cross Timbers Road, the state of the art facility will be within minutes of the new Presbyterian Flower Mound Hospital. “Our vision of this medical office building is to provide the Flower Mound community with a new, Class A facility in which patients are presented with a quality supply of healthcare services within one inviting location.” — Jason Signor, Principle/Partner, Caddis Partners.
About Caddis Partners, LLC — Caddis Partners, LLC is a Dallas-based real estate development, management, and investment firm specializing in the healthcare industry. With its extensive knowledge of medical operations combined with its real estate expertise, Caddis Partners provides its physician and operations clients with an unparalleled breadth and depth of healthcare real estate services and proficiency. For further information on Caddis Partners, LLC please visitwww.caddispartners.com or call Jason Signor, Chief Executive Officer/Partner (214-916-5750).
About MedProperties Holdings LLC — MedProperties Holdings LLC is a real estate private equity firm that provides qualified developers with a consistent source of equity investment for the development of new or value-added acquisitions of existing, healthcare-related real estate projects, including both multi-tenant medical office buildings and single-tenant, specialty facilities. MedProperties invests through its MedProperties Capital Partners LP fund, and is dedicated solely to healthcare real estate. For further information on MedProperties, please visit www.medpropertieslp.com, or call Darryl Freling, Managing Partner (214-661-1000).