Under two global leases covering all the hospitals, Steward has paid MPT what’s been characterized as unsustainably high rents, which contributed in part to Steward’s financial woes, leading to a May 6 Chapter 11 bankruptcy filing in a Texas federal court.
The building was sold by Center Point Medical Center, which paid $2.2 million for the property in 2019.
The company aims for a 2027 opening for its 24,000-square-foot non-affiliated care center.
The clinic, the veterans’ hospital’s third largest, will have double the staff and will be able to serve around 20,000 patients annually, which is five times the number than their previous clinic on Pipkin Road.
The seller, an affiliate of Denver-based Healthpeak Properties, paid $14 million in 2015 for the single-story building that sits on 1.9-acres on 3602 Kyoto Gardens Drive,