ASAS Health

Established Market Leader – In 2021, ASAS Health partnered with Alpine Physician Partners, expanding its senior patient membership from 2,000 to over 20,000+. The tenant now operates more than 25+ primary care clinics across South Texas, underscoring its operational scale and regional footprint.
Recession-Resistant Asset Class – Healthcare real estate remains a resilient investment category, driven by the non-discretionary demand for medical services. The sector’s historical stability during economic downturns continues to attract both institutional and private capital.
Recently Executed NN+ Lease – A new five-year NN+ lease was executed in 2024 following ASAS Health’s acquisition of the practice, reflecting the tenant’s strategic commitment to the location. The lease structure offers passive income with minimal landlord obligations. The tenant reimburses up to $5,000 per year for capital improvements.
Affluent Surrounding Demographics – The ±one-mile trade area surrounding the asset features average household incomes exceeding $94,513. The property is also located less than one-mile from CHRISTUS Spohn Hospital, enhancing potential for patient referrals and supporting continued tenant performance.
Billion Dollar Market – The U.S. primary care physician market was valued at approximately $271 billion in 2023 and is forecast to grow at a 3.36% compound annual growth rate (CAGR) through 2030, driven by aging demographics and increased demand for preventative care.
Tax-Free/Top Destination State – Texas is one of nine U.S. states with no personal income tax, offering potential tax efficiencies for investors. The state also led the nation in net domestic migration in 2024, according to U.S. Census data, reflecting its strong population and economic growth trends.
Covered Garage Units – The clinic features five (5) covered garage units (±1,392 SF) that are directly attached to the building. This provides convenient access for ease of entry regardless of weather conditions.

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Patrick Graham