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Katy EDC members combine forces to finance acquisition of a Gynecology Medical Office Building
Posted: 02/08/2012
FOR IMMEDIATE RELEASE:
WEST HOUSTON/KATY AREA -- January 20, 2012
The Katy Area Economic Development Council (KAEDC) and two of its member organizations
recently joined forces to facilitate financing for the acquisition of a medical office building,
which will be home to the Gynecology practice of Dr. Maria Sobarzo, a graduate of the Texas
A&M University College of Medicine. Sobarzo’s patients have consistently given her the
highest (five-star) rating for professional care and services since starting her practice in the Katy
area in 1989. The medical building is located at 21402 Provincial Boulevard, east of Mason
Road and south of Interstate 10.
The acquisition financing was initiated by Sobarzo’s financial advisor, Mitchell G. Rubin, CFP,
president of ProWealthOne, a Katy Area EDC member firm with branch offices in New York
and Palm Beach. In the search for appropriate financing, Jesus Gomez, a senior consultant with
the University of Houston’s Fort Bend Small Business Development Center (SBDC), led
negotiations with a variety of organizations. A longtime member of the Katy Area EDC, the
UH-Fort Bend SBDC operates three offices in the region, including Katy, Missouri City, and
Rosenberg, under the direction of Joseph A. Decker, Jr.
In assessing the results of the financing initiative, Dr. Sobarzo noted, “I was extremely impressed
with the efficiency and quick actions of Mr. Mitchell Rubin and was pleased with the persistence
and hard work of Mr. Jesus Gomez to achieve my acquisition.”
Rubin added, “Dr. Sobarzo is one of the area’s most respected professionals. It’s a privilege to
work with her. Owning her own building was a key component of the financial plan we
developed for her. The Katy Area EDC and the UH-Fort Bend SBDC made it possible.” Joseph
Decker, commenting on the state of the current marketplace for owner-occupied real estate
financing, said, “When a client is seeking funds to start, buy or expand their business and real
estate is a component of a loan being sought, the possibility of a loan being approved is greatly
enhanced, being that real estate is considered a ‘hard-asset’ by the banks for their commercial
and SBA Guaranteed loan products.”
Lance LaCour, President/CEO of Katy EDC, praised the efforts and cooperation of the parties
involved, and the long-term benefit to the surrounding community. “Katy Area EDC appreciated
the opportunity to assist Dr. Sobarzo and our member firms with the financing of this acquisition
and we welcome the expansion of Dr. Sobarzo’s practice and facility in our community.”
About the Katy Area EDC
Founded in 2003, the Katy Area EDC’s mission is to establish the Katy area as the premiere
location for families and businesses through planned economic growth and economic
development. Since its inception, the Katy Area EDC has grown to 150 members and assisted in
the creation of more than 8,900 jobs and more than $1.05 billion in capital investment.
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Contact:
Lance LaCour
President/CEO
Phone: (281) 396-2200
Email: lancelacour@katyedc.org