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Board of Regents of the University of Texas System pays $258m for hospital
Transactions - DECEMBER 18, 2023

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Board of Regents of the University of Texas System pays $258m for hospital

by Andrea Zander

The Board of Regents of the University of Texas System has purchased Webster Healthcare Facility II from Sila Realty Trust for $258.4 million.

The UTMB Health Clear Lake Hospital, located in Webster, Texas, is an approximately 373,000-square-foot short-term acute care hospital with 199 licensed beds. Until the disposition, the facility has been leased to the Board of Regents of the University of Texas and operated as the Clear Lake Campus for the University of Texas Medical Branch. The lease agreement contained a purchase option in favor of the Board of Regents of the University of Texas, which it elected to exercise and close on the purchase.

The company used a portion of the net sales proceeds to pay down all of its outstanding variable rate debt, leaving the company with 100 percent of its debt fixed through interest rate swaps, with the balance of proceeds to be used for general corporate purposes.

 

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