Veritas brings together client focused development skills with sophisticated financial structuring methodology. We build to our client’s current program needs while keeping growth in mind. Whether we are developing a single tenant, build to suit project or a multi tenant medical office building, our emphasis is on what will best serve our clients and their patients.
Renaissance Surgery Center, Crockett, Texas
Design
We assemble and manage the architecture, engineering, and construction team that best fits the program requirements. Each facility requires a unique approach and we are careful to bring professionals with the requisite skills and experience to each project. We help our clients map out their needs and design to the level that is appropriate for the projected use of the property.
Construction
Just as the design team should be a good fit for the project, so should the construction company. Smaller projects call for smaller, more entrepreneurial contractors. Larger projects need construction company’s with greater resources. Our goal is to properly match the contractor with the job based on project size, location and level of detail required.
Costs
Unlike many developers, Veritas does not “over fee” a project. We take an open book approach to development. We bid or negotiate all aspects of the construction costs and contracts and these costs are passed through to the job without add ons. The construction contracts are always fixed cost contracts. All project costs, including development fees to Veritas, are open to client review prior to the start of the project.
Project Finance
We are able to bring financing to a transaction and provide a build to suit facility as landlord by using a lease agreement. Real estate leases are a source of financing for property users. Our goal is to provide our clients with the facilities they need at a fair occupancy cost. We have extensive experience structuring leases. By partnering with our clients we are able to pursue managing their cost of capital through strict cost management, lease structuring, and the use of creative financing tools.
If our clients choose to own facilities, we can assist in the placement of the required financing and provide a turnkey solution on a fee for services basis. We can also build a new building for purchase by our client at the completion of construction, much like a homebuilder.
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Sale-Leaseback financing is an efficient and cost effective source of capital for credit worthy Seller/Lessees. In today's business climate, corporate financial objectives, including the use and allocation of capital, are under constant scrutiny. Corporate-owned real estate can be costly and erode profits. However, real estate can be used to unlock shareholder equity.
A Source of Capital
Sale-leaseback transactions are an alternative method for raising capital. A sale-leaseback transaction allows a property to be sold and immediately leased back to the seller. After the transaction the seller is able to make use of the property in a more productive way. The Seller/Lessee profits from the sale, while retaining full operating control of the property.
Benefits
When properly structured, sale-leaseback transactions become a form of off-balance-sheet financing. Sale-leaseback financing can be a good source of capital for operating companies or medical practices. Some uses for the proceeds might be:
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Houston County Medical Investors is the owner of the facility. Local community leaders banded together and contributed significant capital resources in order to bring advanced medical care to Crockett and the surrounding communities.
The 13,000 square-foot facility is comprised of an approximately 10,000 square-foot ambulatory surgery center and 3,000 square feet of clinic space. The surgery center contains two operating rooms and one procedure room, which is designed to be converted to an operating room if the need arises.
The surgery center will be operated by Solara Surgical Partners of Southlake, Texas. Specialties planned for the facility include Orthopedics, Pain Management, Ear Nose and Throat, Urology, Neurosurgery, GI Procedures and General Surgery. The physicians in each of these specialties will also hold clinics at the facility at least one day a week.
Veritas Medical Properties arranged the financing and managed the overall development and construction of Renaissance Surgery Center.
Veritas Medical Properties is pleased to announce the completion of the Goddard School in McKinney, Texas. This 8,000-square-foot school is dedicated to early childhood development. The facility was built according to the high standards of Goddard Systems, Inc. The site is almost 1.5 acres and provides tremendous visibility and access to the school.
Veritas Medical Properties is pleased to announce the completion of construction of the Brown Hand Center in Bedford, Texas. The 15,000 square-foot facility is located on Airport Freeway in the heart of the Dallas/Fort Worth Metroplex. The state of the art building is comprised of a 10,000 square foot ambulatory surgery center and a 5,000 square foot clinic.
Veritas Medical Properties is pleased to announce the completion of construction of the Goddard School in Austin, Texas. This 8,000 square-foot school is dedicated to early childhood development. Goddard School buildings are custom designed and planned to provide safe, healthy, and stimulating environments for children from six weeks to six-years-old. Two separate playgrounds are designed to challenge and delight each age group.
Veritas Medical Properties, LLC announces the completion of the Renaissance Surgery Center in Crockett, Texas. Read more.
View our completed projects