Healthcare

PALMETTO, FLA. — General contractor Robins & Metro has topped out BayCare Hospital Manatee, a $563 million hospital underway in Palmetto, a city in Southwest Florida’s Manatee County. Situated one mile from the junction of I-75 and I-275, the 450,000-square-foot hospital will offer 154 beds in private patient rooms. Gresham Smith designed the hospital as well as the adjacent BayCare HealthHub clinic on behalf of BayCare. The Florida-based healthcare system plans to open BayCare Hospital Manatee, its 17th hospital, in 2028. The BayCare HealthHub facility is expected to open later this year.

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SHENANDOAH AND RICHMOND, TEXAS — Pinecroft Realty has refinanced two medical office buildings totaling approximately 70,000 square feet in metro Houston. The loan amount(s) was not disclosed. The buildings include the 57,000-square-foot Vision Park Medical Office Building in Shenandoah, located north of Houston, and the 13,000-square-foot Memorial Hermann Surgery Center of Richmond, located southwest of Houston. Noth Carolina-based Live Oak Bank provided the loan(s).

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MINNEAPOLIS — Transwestern has acquired Forte Real Estate Partners, a commercial real estate firm based in the Twin Cities. The transaction adds 12 healthcare, office and industrial tenant advisory team members and a broad property management portfolio. Established in 2021 through the merger of Excelsior Advisory and Paramount Real Estate Corp., Forte provides brokerage and property services across the Twin Cities region. Founders Steve Brown, Jim Jetland and Philip Simonet will join Transwestern, bringing decades of experience and knowledge across healthcare, office and industrial real estate, respectively. Forte has advised clients on more than $885 million in transactions and managed nearly 1 million square feet of commercial property. Following the acquisition, Transwestern maintains roughly 475 team members across the Midwest and oversees more than 52 million square feet of office, industrial, healthcare, retail and government properties. The Forte team will join Transwestern’s Minneapolis office at 705 Marquette Ave.

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TINTON FALLS, N.J. — Colliers has brokered the sale of the former Red Bank Veterinary Hospital building, located at 197 Hance Ave. in the Central New Jersey community of Tinton Falls. According to LoopNet Inc., the building was constructed in 2004 and totals 40,185 square feet. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller and procured the buyer in the transaction, which was executed via auction platform Ten-X. Both parties requested anonymity.

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MIAMI — Jackson Health System has completed the first phase of the $400 million renovation and expansion of its emergency room at Jackson Memorial Hospital in Miami. The newly built, ground-up emergency room has doubled its original footprint, which now spans 178,000 square feet. Designed by HKS and built by Skanska, the project included the demolition of two existing buildings to create space for the expanded facility. Phase I of the renovation features 60 general exam rooms, four resuscitation rooms, six triage and 12 fast-track rooms, along with a second floor that comprises 50 observation rooms and seven acute care rooms. Patients also now have access to a full radiology suite with MRI, CT, X-ray and ultrasound capabilities, as well as an on-site pharmacy for immediate delivery of medications. Phase II of the project will continue to expand the existing 45,000-square-foot emergency room with 121 adult emergency rooms, dedicated behavioral health bays and 30 pediatric emergency rooms. Renovations are underway and scheduled for completion in 2027. Lastly, Phase III will further expand the emergency room through the addition of a third floor with more clinical space and a helipad for rapid transfers and life-saving arrivals.

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SPOKANE, WASH. — Matthews has arranged the sale of a four-property medical office portfolio located at 427 S. Bernard St., 9651 N. Nevada St., 31 E. Central Ave. and 208 W. 5th Ave. in Spokane. Michael Moreno, Rahul Chhajed and Tyler Swade of Matthews represented the seller, a group of physician owners, in the transaction. Terms of the deal were not released. The Spokane Eye Clinic Portfolio is composed of 72,000 square feet of medical office space that is fully occupied by a 28-physician practice with more than 70 years of operating history supporting over 146,000 annual patient visits and 13,000 surgical procedures. The clinic operates under PRISM Vision Group, a McKesson-backed national ophthalmology platform with more than 100 affiliated locations, under NNN lease structures with 2.5 percent annual rent escalators.

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GILBERT, ARIZ. — Transwestern Investments has sold Copper Point, a 93,262-square-foot medical outpatient property in Gilbert. Terms of the transaction were not released. Transwestern purchased the asset in April 2025 through a joint venture with RX Health & Science Trust. During ownership, the partnership brought the building to full occupancy and completed capital improvements. Located at 3530 S. Val Vista Drive, Copper Point is anchored by City of Hope and houses healthcare providers such as Prosano Health, an affiliate of Blue Cross Blue Shield of Arizona, and Phoenix Children’s Hospital. Built in 2008, Copper Point is adjacent to Dignity Health’s Mercy Gilbert Medical Center, a 418-bed, full-service hospital located at the intersection of South Val Vista Drive and Highway 202.

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WADSWORTH, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant medical building occupied by Cleveland Clinic Urgent Care in Wadsworth near Akron. The property recently received nearly $7 million in upgrades from the Cleveland Clinic to transform the asset into a modern urgent care facility with onsite imaging and lab services. Dan Cooper of Cooper Group represented the seller, a private New York-based investor. The property sold at a 5.6 percent cap rate to another private investor based out of New York in an all-cash transaction.

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WASHINGTON, D.C. — Berkadia has secured $37.6 million in C-PACE (Commercial Property-Assessed Clean Energy) financing for 1201 Sycamore, a trophy outpatient medical and community services facility located in Washington, D.C.’s Congress Heights neighborhood. The 117,075-square-foot medical facility was completed in 2023 and is leased to firms including Whitman-Walker Health and Whitman-Walker Clinic.  J Street Cos. manages the property. Brian Gould, Natalie Hershey, Patrick McGlohn, Patrick Cunningham and Hunter Wood of Berkadia arranged the 28-year loan through Nuveen Green Capital on behalf of the locally based borrowers, Redbrick LMD and Gragg Cardona Souadi. The financing supports the property’s energy efficiency, water conservation and resiliency components. DC Green Bank is the administrator of the DC PACE program.

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ROHNERT PARK, CALIF. — Levin Johnston of Marcus & Millichap has directed the sale of a 67,584-square-foot medical office property located at 5900 State Farm Drive in Rohnert Park. A private family ownership group acquired the asset from an undisclosed seller for $23.7 million. Kaiser Permanente and Petaluma Health Center anchor the two-story property. Robert Johnston, Adam Levin and Justin Fink of Levin Johnston of Marcus & Millichap represented the seller and procured the buyer in the deal.

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