Houston’s medical sector is booming with construction, and a number of the city’s real estate companies are looking to get their slice of the pie. Add Stream Realty Partners LP to that list.
Dallas-based Stream Realty has launched a Houston-based health care division, and brought on Rob Choksi to lead the group. Choksi brings experience from The Woodlands-based Pisula Development Co., where he spent more than four years assembling and closing health care real estate deals valued at $450 million. Stream plans to work with Houston’s larger health systems, such as Houston Methodist and Memorial Hermann, as they expand in the suburbs.
Stream Realty’s medical division is currently made up of Choski and Paul Coonrod, partner and managing director, as well as some researchers and analysts. HBJ talked with Choski about the new division.
Are you planning on hiring?
Right now, we’re kicking (the division) off. We have a lot of experienced team members on board, and folks on the service side of the business have experience with health care assets. Stream’s existing portfolio has medical office projects or related projects. As we go forward and different opportunities materialize, there are always thoughts to expand the business.
What deals are you working on now?
There’s definitely a lot of opportunities in certain submarkets. We’re looking in Katy and the Energy Corridor – health care is really booming in those corridors. And then south Houston markets, like Pearland, are booming. The Woodlands remains strong, with high absorption and low vacancy. At this point, we’re not ready to reveal specific projects, but we’ve got quite a few coming up. We’re looking at medical office – that’s one of our main objectives. I think there’s significant demand in markets that are just popping up.
Health systems and hospitals and all the major players are … looking to expand and grow in the Houston suburban markets, and we’re looking to work with them and see what their needs are and fill them from the real estate side.
By: Cara Smith
SOURCE: Houston Business Journal