HealthCap Announces New Texas Development Project
New State-of-the-Art Post Acute Facility in DFW
DALLAS (May 9, 2017) – HealthCap, a national healthcare private equity and real estate investment firm, announced its latest development project today. The initial phase of the project will consist of an approximately 21,000 square foot building containing 24 patient rooms. Upon completion, the facility will be operated by a leading national post-acute care company that will provide 24-hour specialized inpatient rehabilitative and nursing care for adult patients suffering from traumatic brain injuries, severe spinal cord injuries, and other medically complex conditions, such as neuromuscular disorders and pulmonary disease. Construction is expected to begin in Fall 2017. The facility is designed for future expansion up to 36 beds.
The project is located at the northwest corner of Shiloh Road and Campbell Road, in the north Dallas suburb of Garland, Texas. The scenic 5.4-acre elevated site overlooks the Spring Creek Harris Trail Greenbelt and pond to the south and will feature an abundance of native trees and landscaping that will offer patients, caregivers and staff a peaceful and semi-secluded care and healing environment. The site is conveniently located just inside the President George Bush Turnpike between the new CityLine mixed-use development to the west and to the east, Firewheel Town Center, a high-end Main Street-style shopping, dining and entertainment destination.
The project was designed by Devenney Group Architects and construction will be performed by Frank Dale Construction. The construction loan was originated and closed in-house by HealthCap on behalf of the borrower, an affiliate of HealthCap.
HealthCap is a private equity firm specializing in creative growth capital and real estate solutions for the strategic needs of the healthcare industry. HealthCap assists its operating partners by providing growth capital, facilitating buy-outs and recapitalizations, and executing strategic healthcare real estate initiatives. Since 1996, HealthCap has sponsored more than $1.1 billion in healthcare sector investments. For more information, please visit healthcap.com.