HCA Development ProgramNationwide
In collaboration with long-time partner, HCA Healthcare (“HCA”), HCP announced a new development program that will deliver primarily on-campus medical office buildings across growing markets nationwide. HCA outpatient departments are expected to anchor roughly half of the square footage of each development project, with the balance of demand coming from third-party physicians and other ancillary medical services. We view this as a win-win, furthering a long-standing partnership with HCA while continuing to work together to find attractive opportunities for future growth.
The Program commenced with a $26 million, 90,000 square foot on-campus medical office asset, located at the market leading HCA operated Grand Strand Medical Center (“Grand Strand”) in Myrtle Beach, South Carolina. Grand Strand will anchor the development and occupy 42,000 square feet upon completion.