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Katy Today
By the People, for the People
HCA ASC Real Estate Portfolio Sold to Montecito Medical
65,000-square-foot portfolio includes two ASCs and medical outpatient buildings in Texas and Utah
Published on Feb. 11, 2026
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A portfolio of two ambulatory surgery centers (ASCs) and medical outpatient buildings totaling 65,540 square feet in Katy, Texas, and Orem, Utah, has been sold by NexCore Group to Montecito Medical Real Estate. CBRE facilitated the sale and served as exclusive advisor to the seller, NexCore Group.
Why it matters
The sale of this HCA Healthcare-anchored portfolio demonstrates continued investor appetite for high-quality medical real estate assets, particularly those with long-term leases to reputable healthcare providers like HCA. The transaction also highlights the ongoing trend of real estate investment trusts (REITs) and other institutional investors acquiring purpose-built outpatient facilities to capitalize on the shift towards more convenient, lower-cost care settings.
The details
The portfolio is fully leased with an average weighted average lease term of 13.8 years. HCA Healthcare ASCs represent 86% of the overall net rentable area under new 15-year leases. The assets were newly delivered in 2025 and will continue to be managed by NexCore Group.
- The sale was completed on February 4, 2026.
- The assets were newly delivered in 2025.
The players
Montecito Medical Real Estate
A real estate investment trust (REIT) that acquires and owns a portfolio of medical office buildings and other healthcare-related facilities.
NexCore Group
A national healthcare real estate development and investment firm that served as the seller in this transaction.
CBRE
A commercial real estate services and investment firm that facilitated the sale and served as exclusive advisor to the seller, NexCore Group.
HCA Healthcare
A leading healthcare provider that operates the ASCs anchoring the portfolio.
The takeaway
This transaction demonstrates the continued strong demand for high-quality, purpose-built medical real estate assets leased to reputable healthcare providers. The sale also highlights the ongoing shift towards more convenient, lower-cost outpatient care settings and the corresponding interest from institutional investors to acquire these types of properties.
