Simpkins Group Sells Central Texas Holdings, Market briefs

Simpkins Group sold this medical building in Round Rock, near Austin. Photo: JLL

In Austin, Simpkins Group, a Houston-based real estate firm led by Douglas Simpkins, has sold two of its healthcare properties in Central Texas.

JLL handled the sale of two recently completed healthcare facilities totaling 35,000 SF in Austin and San Antonio.

The buyer is an affiliate of Capital Square 1031.

The portfolio comprises two post-acute neuro-rehabilitation facilities operated by Mentis Neuro Health, a leader in acute care for purchased brain injuries. Services provided include inpatient and outpatient programs that provide intensive, specialized therapy in the areas of physical therapy, occupational therapy, speech/language pathology and counseling services, among others.

The Austin-area property, 5150 A.W. Grimes Boulevard in Round Rock, consists of 16 beds with the capacity to expand to 24 beds within a 15,139-square-foot building.

The San Antonio property, located at 18931 Hardy Oak Boulevard, consists of 24 beds within an 20,000-square-foot building.

The JLL Capital Markets team representing the seller was led by Vice President Rick Goings, Managing Director Rudy Hubbard, and Senior Vice President Kevin McConn.