Veritas brings together client focused development skills with sophisticated financial structuring methodology. We build to your 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 you and your patients.
Design
We assemble and manage the architecture, engineering, and construction team that best fits your practice and patient needs. Each facility requires a unique approach and we are careful to bring professionals with the requisite skills and experience to each project. The Veritas team works with you to ensure that your facility in not over built or undersized for your practice. We help you map out your needs and design to the level that is appropriate for the projected use of the property.
Construction
We assemble and manage the architecture, engineering, and construction team that best fits your practice and patient needs. Each facility requires a unique approach and we are careful to bring professionals with the requisite skills and experience to each project. The Veritas team works with you to ensure that your facility in not over built or undersized for your practice. We help you map out your needs and design to the level that is appropriate for the projected use of the property.
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 construction costs and contracts with third party contractors. 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 for you to review prior to the start of the project.
Project Finance
We can 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 you with the facilities you need at a fair occupancy cost. We have extensive experience structuring leases. By partnering with you, we are able to manage your cost of capital through strict cost management, lease structuring, and the use of creative financing tools.
If you 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 you to purchase 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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Veritas Medical Properties served as developer and owner of two primary care facilities leased to Deaconess Hospital in Oklahoma City, Oklahoma. Each facility is located in a highly visible location adjacent to national tenants. One clinic is located on Memorial Road at MacArthur next to Starbucks. The second clinic was built on North May and has McDonald’s as its neighbor.
The identical buildings are 11,000 square feet each. Each facility contains a procedure room, an imaging room, and 21 exam rooms. The high clearance porte cochere is designed to accommodate an ambulance. The two story clear height at the entry/waiting area adds visibility to the building.
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 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, LLC announces the completion of the Renaissance Surgery Center in Crockett, Texas. Read more.
View our completed projects