Norvin Healthcare Properties closed on the acquisition of the Pin Oak complex in Bellaire, Texas, reaffirming the company’s 20-year commitment to serving the healthcare community in Greater Houston.
With the acquisition of the five-building, 505,000 square foot Pin Oak Portfolio, Norvin now owns 12 healthcare properties totaling more than 1.2 million square feet in Greater Houston, including in the Texas Medical Center and elsewhere in Houston.
“Pin Oak is a prominent, mixed-use complex in Bellaire, exceptionally well located at the corner of ‘Main & Main,’” explains Norvin President Norman Livingston.
Norvin intends to make significant capital improvements to the property with an immediate focus on state-of-theart mechanical systems, comprehensive upgrades to the parking garages, cosmetic enhancements throughout and superior tenant amenities.
Pin Oak Portfolio Acquisition, Bellaire
The Pin Oak Portfolio includes the buildings at 6700 West Loop South, 6750 West Loop South, 6800 West Loop South, 4710 Bellaire Blvd. and 4747 Bellaire Blvd., as well as two parking garages.
“The Pin Oak complex has consistently enjoyed an occupancy rate of more than 90 percent over the years and was 93 percent occupied at the time of the acquisition, demonstrating its enduring popularity among tenants,” Mr. Livingston says.