Leased by Transwestern, 427 W. 20th St. to Undergo Significant Renovation
March 03, 2022
Houston – Wolf Capital Partners announces it has acquired Heights Medical Tower, a 120,000-square-foot medical office building at 427 W. 20th St. in Houston’s Heights neighborhood. Transwestern Real Estate Services’ (TRS) Justin Brasell and Christian Connell have been tapped to provide Agency Leasing services for the property, which will undergo significant capital improvements. Rebranded as HeightsMED, construction is expected to begin in mid-2022 with an estimated completion by mid-2023.
“The repositioning of HeightsMED provides an excellent opportunity to transform a well-located medical office building with great bones into a best-in-class facility in a neighborhood where there is a massive void for healthcare services,” said Zach Wolf, Principal at Wolf Capital Partners.
Upon completion, HeightsMED will be a Class A medical office building featuring a new lobby, elevator cabs, restrooms, MEP systems and spec suites. Exterior upgrades include a refreshed streetscape and widened sidewalks, further supporting the walkability of the area and offering better access to nearby retail, food and beverage. HeightsMED has a connected parking garage, providing a convenient option in a submarket that is parking constrained. The facility is accessible by various modes of transportation and is near Interstate 610 and White Oak Bayou Greenway Trail.
“HeightsMED benefits from the neighborhood’s strong payer mix and high-income,” said Brasell, Executive Vice President and Managing Director of Healthcare Advisory Services at Transwestern. “Barriers to entry in the Heights are extremely high given the submarket’s very limited supply of quality medical office space. HeightsMED is an excellent opportunity for specialty practices seeking reasonably priced Class A space in an in-demand submarket.”
Anthony Heins of Heins Properties represented Wolf Capital Partners in the acquisition. Matthew Putterman, Managing Director of JLL, secured financing from Origin Bank on behalf of Wolf Capital Partners.
Photography available for download here.
About Wolf Capital Partners
Founded in 2019 in Houston, Texas, Wolf Capital Partners is a commercial real estate development firm dedicated to increasing value across all asset classes and contributing to the community. WCP believes in making a long-term positive impact on the communities it touches, and it partners with best-in-class people to do so.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.