A 135,000-square-foot general acute care hospital in Pasadena, TX. 

Serving as advisor to the PMC physician group, Norvin unwound an underperforming and contentious joint venture relationship between the PMC physicians, the developer of the hospital and the hospital operating company. Coterminous with the buyout of the developer and operating company, Norvin acquired the real estate, introduced the physicians to St. Luke’s Health System (S&P-Rated “A-“) and advised the physicians on the creation of a new joint venture with St Luke’s. Norvin entered a 25-year, long-term NNN lease with the hospital, guaranteed by St. Luke’s. Since completing the transaction, the hospital has expanded at the site and St. Luke’s was acquired by CHI, the nation’s third largest health system.   

A 75,000-square-foot outpatient medical facility in New York City. 

Norvin entered into a long-term NNN lease with NYU on an existing 50,000-square-foot property. NYU is undertaking a gut renovation and expansion of the property. The lease structure provides NYU with many of the benefits of ownership including exemption from the payment of real estate taxes. 

In separate transactions, Norvin acquired two off-campus medical office buildings from Memorial Hermann Health System (MHHS). At the time of acquisition the properties were 35-50% leased with the balance vacated by MHHS. Norvin repositioned the properties with capital and cosmetic improvements. Both properties were subsequently stabilized at 90%+ occupancy with a synergistic mix of physician groups and strong health system tenants. 

A master-planned, mixed-use redevelopment of the largest remaining site at the heart of the Texas Medical Center. 

Norvin assembled the site between 1999 and 2003. A portion of the site is improved with a 275,000-square-foot office building which Norvin upgraded and leased for a 16-year term to MD Anderson Cancer Center. In 2016, MD Anderson vacated the property. Norvin is currently focused on redeveloping the assembled site.