The Sanders Trust Acquires Two Medical Investments for $17.1 Million

Birmingham, Ala. – The Sanders Trust (TST), a Birmingham-based healthcare real estate investment and development firm, acquired two assets in December 2015 adding $17.1 million to its’ portfolio. The first acquisition was the purchase of the 61,000-square-foot Nix Behavioral Health Center in San Antonio, Texas for $13.5 million.

The Nix Behavioral Health Center provides inpatient behavioral health services for adults and children, and consists of a 31-bed child and adolescent unit, a 26-bed adult unit and a 24-hour nursing care. The single tenant property, located at 1975 Babcock Road in San Antonio, was fully renovated in 2013 and is solely leased to Nix Health Care System. Founded in 1930, Nix offers comprehensive inpatient and outpatient medical and surgical services, behavioral health, physical rehabilitation, and home care, among many other healthcare services. The second acquisition was the Matrix Medical Facility a 24,663-square-foot medical clinic and surgery center in a prime location in Saginaw, Michigan.

The Matrix Medical Facility is operated by a joint venture between the physicians and United Surgical Partners International (USPI), and provides clinical and surgical services related to pain management. USPI’s surgical and imaging facilities include approximately 20 imaging centers, over 265 short-stay surgical facilities, and 50 health systems with more than 4,000 physicians. The Sanders Trust purchased the fully leased property for approximately $3.6 million. “The December acquisitions of the Nix Behavioral Health Center and the Matrix Medical Facility rounded off another great year for The Sanders Trust,” stated Rance Sanders, president and CEO of The Sanders Trust. “We are pleased to be able to continue our organization’s role in providing easily-accessible healthcare services throughout the U.S.”