Lakeway Medical Center

Challenge

• The master developer for the Lakeway Regional Medical Center (LRMC) needed a brokerage team with experience in healthcare product for the marketing of their remaining medical office building sites as part of the LRMC PUD.
• The ownership was open to leasing or selling the sites, but would require 40%+ pre-leasing for development. At the time of coming on to the assignment, the LRMC hospital was struggling with the ownership group.

Strategy

• ECR leveraged its in-house marketing team and resources to create a brand for LRMC as well as custom marketing materials outlining the opportunity.
• The brokerage team for ECR aggressively marketed the property towards active developers and tenants in the healthcare field.
• A consistent and broad marketing program was implemented.
• During this time, Baylor, Scott & White purchase the hospital, and a new marketing effort and program was executed centered around this update.

Results

• ECR was able to locate a qualified medical developer to acquire the sites.
• During the sales process work was needed to obtain the necessary impervious cover rights to develop the planned medical office building for the site, which the team at ECR worked with all parties on to help coordinate.
• The sites were sold and have been developed as medical office buildings within LRMC.