Principal Asset Management acquires healthcare asset in Plano, Texas for $15.6 million
Type: Acquisition · Technology: Hospitality · Country: United States · Value: $15.6M · Announced: 2026-03-31
Principal Asset Management completed its third U.S. acquisition for SCPI Principal Inside, purchasing a healthcare asset in Plano, Texas for $15.6 million. The 3,605 square meter (38,800 square feet) property, originally built in 1996 as a senior living residence, is being renovated to operate as a specialized addiction treatment center. The asset is fully leased to Guardian Recovery, a national operator managing 17 addiction treatment facilities across six U.S. states, with operations already active on-site. The lease features a weighted average lease break of 17.3 years as of March 31, 2026, and is structured as an absolute triple-net lease, minimizing operating and capital expenditure risks. The transaction continues Principal Asset Management's transatlantic real estate investment strategy, following earlier acquisitions in Florida and Texas.
Counterparties
- Guardian Recovery (Tenant)
- Principal Asset Management (Buyer)
- SCPI Principal Inside (Parent Company)