E-Care Emergency Centers
In July 2011, 2MR co-sponsored a joint venture to acquire the majority interest in E-Care Management, LP, an owner and operator of licensed free standing emergency rooms. At the time of acquisition, E-Care operated a single facility in McKinney, TX. The assets of E-Care Management, LP were sold in October 2015 to Legacy ER & Urgent care. During the term of ownership 2MR and its affiliates were responsible for site selection, lease negotiations, tenant improvements and build-to-suit development. The portfolio grew to a total of five (5) units; two subleases which required significant renovations and two build-to-suit developments for E-Care. At the closing of the asset purchase, the Legacy ER & Urgent Care executed new long term NNN leases for four (4) of the locations. Two (2) locations are owned in an independent joint venture partnership and two (2) are still owned by E-Care Management, LP. SOLD
2MR|Capital, LCC
Nix Behavioral Hospital
$10,400,000
2MR and its affiliate sponsored a $2.5 mm joint venture investment with Interra Partners, LLC for the acquisition of 61,358 SF behavioral hospital in San Antonio, TX. The property is leased to Nix HealthCare systems under a long term NNN lease. The project sold in December 2015 and resulted in a 26% IRR for it’s investors. SOLD
SandCap Willow Park
$9,492,000
2MR and Sandlin Capital sponsored a joint venture to provide $1.97 mm in project equity for the development of Clear Fork Assisted Living and Memory Care facility in Willow Park Texas. The project was sponsored by Civitas Senior Living and is the thirteenth property in Civitas’s expending portfolio.
SandCap MOB Realty Partners
$5,185,000
2MR and Sandlin Capital sponsored the acquisition of two single tenant medical office buildings in the DFW area. 2810 Hardin in McKinney was developed in 2005 and leased to E-Care Emergency Centers. 2MR negotiated the acquisition of the facility from the developer which ultimately secured 100% of the space for E-Care while also lowering their occupancy cost. On behalf of its E-Care affiliate, 2MR negotiated a sublease from CVS on a vacant 10,000 SF facility in North Richland Hills, TX. E-Care then invested just over $2.0 mm in renovations. Upon completion of the renovations, 2MR then negotiated the acquisition of the property from the master landlord.
SandCap Prevarian Investors
$11,600,000
2MR and Sandlin Capital sponsored a joint venture to provide $2.52 mm in project equity for the development of an Assisted Living and Memory Care facility in Odessa, TX. The project was sponsored by Prevarian Senior Living. The property located within the Parks Methodist Retirement Village and is operated by Sears Methodist Retirement Systems.
E-Care Keller BTS
$5,200,000
2MR and it’s affiliates completed the ground up development of a 10,250 SF free standing emergency department for E-Care Management, LP. The property is now leased to Legacy ER & Urgent Care under a long term NNN lease. SOLD
E-Care Coppell BTS
$5,200,000
2MR and it’s affiliates completed the ground up development of a 10,250 SF free standing emergency department for E-Care Management, LP. The property is now leased to Legacy ER & Urgent Care under a long term NNN lease. SOLD
SandCap Davis – N Tarrant
$4,365,000
2MR, Sandlin Capital and Dollar Flowers Realty Partners formed a joint venture to acquire 14 acres of vacant land in North Richland Hills, TX. The property has 976 feet of frontage on Davis Boulevard and is adjacent to a new 120,000 Kroger Grocery Store currently under construction. Notably the property also wraps the existing E-Care property in NRH owned and operated by other 2MR affiliates. 2MR and Sandlin Capital provided $1.528 mm in equity and secure the development loan on behalf of the partnership. SOLD
SandCap Retail Partners
2MR co-sponsored a joint venture platform with Verdad Real Estate for the acquisition and development of quick service restaurants (QSR) and convenience stores (C-Stores) throughout the US. 2MR and its investment partners provided over $8.0 mm in project equity and assisted in securing and providing the necessary credit enhancements for a $25.0 mm guidance line. Over the 24-month investment period, SandCap Retail Partners developed 14 QSRs and C-Stores and transacted on 6 sale/leaseback portfolios consisting of 41 assets totaling $77 mm in investments. SOLD
SandCap 711 Elm
$1,500,000
2MR, Sandlin Capital and Dollar Flowers Realty Partners formed a joint venture to acquire a 110 space parking garage with 6,619 SF of retail space in the West End District of Downtown Dallas. The JV secured a 100% participating bridge loan. The project was sold in October 2015. SOLD