January 9, 2023
SAN ANTONIO, TEXAS — Oldham Goodwin recently arranged the sale of the former Nix Behavioral Health Hospital located at 1975 Babcock Road to Cedar Health Group of New Jersey. Cedar Health will invest over $5 million dollars to renovate and update the mental health rehabilitation facility.
“This building was a blight for three years in an otherwise robust and vibrant San Antonio Medical Center. We are excited to see Cedar Health put this facility back into service. This was our team’s second significant trade in the San Antonio Medical Center in 2022, an area we intend to remain active in,” says Clint Oldham, Managing Director of Investment Sales.
“We believe this purchase by Cedar Health Group will not only revitalize the building but also offer an important resource for the San Antonio community’s medically and mentally challenged,” said Steve Monroe, Market Manager for San Antonio/South Texas.
Cedar Health Group CEO Mark Tress says the investment into the building will bring another much-needed mental healthcare resource to San Antonio.
“Recent statistics show San Antonio as the fourth-worst city in the U.S. after Dallas and Houston for mental healthcare and maintenance. We hope our building will serve as an important resource for the continuum of care not yet being properly addressed by the current medical establishment.”
About Cedar Health Group:
Cedar Health Group focuses on purchasing and developing long-term, acute, and mental health facilities throughout the country. Cedar Health Group has several intense outpatient programs; Intensive Behavioral Health and NL Whole Health Treatment Center in Shreveport and Sunview Medical Day in West Palm Beach. Cedar Health Group is in the process of building additional inpatient and outpatient acute care hospitals in West Palm Beach, Florida, Melrose Park, Illinois and Wichita, Kansas. Additional inpatient substance abuse and eating disorder facilities are present in Washington State and Mt. Dora, Florida. Additionally, Cedar Health Group owns nursing facilities throughout the country.
About Oldham Goodwin
Oldham Goodwin is a fully-integrated commercial real estate services company that offers brokerage, management, investment and development services for commercial real estate owners and investors throughout the state of Texas. Our highly skilled professionals work as a team across divisions to provide clients with accessible and reliable results in the commercial real estate sector. Oldham Goodwin is headquartered in Bryan-College Station, and has additional offices serving greater Houston, San Antonio-Austin, Waco-Temple-Killeen, and Dallas-Fort Worth.
Oldham Goodwin’s Investment Sales Team, led by Clinton D. Oldham, Steve Monroe, and Aaron Morris, specializes in the acquisition and disposition of healthcare and retail properties across the state of Texas.