INDIANA, LOUISIANA, WISCONSIN AND KANSAS — W. P. Carey has acquired four inpatient rehabilitation facilities (IRF) located in Indiana, Louisiana, Wisconsin and Kansas for $137 million. New Era Cos. and WB Development Partners developed and owned the 191,000-square-foot portfolio. The properties are triple-net leased to NewEra Nobis Operations Holdings, a healthcare provider specializing in comprehensive rehabilitation services for patients recovering from debilitating illnesses and injuries. The weighted average lease term is 17 years with fixed annual rent increases. As part of the transaction, W. P. Carey is also funding a 10-bed expansion of the Kansas facility. Nobis Rehabilitation Parters manages the properties. The inpatient rehabilitation sector largely serves elderly and Medicare-eligible individuals. IRFs typically provide shorter lengths of stay and superior health outcomes relative to other post-acute options, according to W. P. Carey.
PLYMOUTH AND BURNSVILLE, MINN. — Davis Medical Investment Fund (DMI Fund) has acquired two Minneapolis-area outpatient medical properties for $21.9 million. The properties include a 30,250-square-foot, single-story outpatient building in Plymouth that was purchased for $12 million. The property was fully renovated and expanded in 2019, adding 15,000 square feet. At the time of sale, the building was fully occupied. Fresenius anchors the property and occupies roughly one-third of the space, offering nephrology specialty services. Fresenius renewed its lease earlier this year. In Burnsville, Davis acquired the Pondview Medical Building, a two-story, 34,224-square-foot property, for $9.9 million. At the time of sale, the building was fully leased to four tenants, including anchor tenant Southdale Pediatrics. Pondview was developed in 2005 and received significant updates in 2024. The acquisitions follow Davis’ recently announced refinancing of 19 properties totaling $171 million with Capital One Healthcare Finance. Leveraging its new $250 million line of credit, Davis continues to expand the DMI Fund’s investment portfolio, which now includes more than 20 properties totaling nearly 885,000 square feet across eight states.
SCOTTSDALE, ARIZ. — Mark IV Capital Properties has completed the sale of Paradiso, a two-story, multi-tenant medical office building in Scottsdale. Albany Road Real Estate Partners acquired the property for $13.3 million. The 59,445-square-foot asset features a large central courtyard with decorative fountains and seating areas, private entrances and balconies, covered breezeways, patios off several ground-floor suites and full-length storefront windows. The property is located at 11000 N. Scottsdale Road. Eric Wichterman, Alexandra Loye, Chris Toci and Mike Coover of Cushman & Wakefield represented the seller in the transaction.
GILBERT, ARIZ. — Edward Homes Development has broken ground on Melrose Professional Park, a Class A medical and office condominium park on the southeast corner of S. Rome and E. Melrose streets in Gilbert. Tom Weinhold, Sheila Bale and Erika Eckblad of Cushman & Wakefield are handling sales efforts for the project. Upon completion, the 120,000-square-foot asset will feature eight approximately 10,000-square-foot and two 20,000-square-foot medical condominium buildings, offering units ranging from approximately 5,000 square feet to 20,000 square feet. The first delivery is scheduled for April 2026, with phased completion through December 2026. Melrose Professional Park is designed as a single-story, 10-building mixed-use office property. The development will offer designated patient drop-off areas, generator pad accessibility, exterior-loaded buildings and planned building signage. Each unit will be delivered in shell condition with HVAC curbs, allowing for customized build-outs.
BALTIMORE — Capital Funding Group (CFG) has provided a $253.2 million bridge loan for the refinancing of a skilled nursing portfolio. The portfolio includes six facilities in Maryland and one in Virginia. Together, the properties total 1,050 beds. Craig Casagrande, Scott Robinson and Catherine Mansel of Baltimore-based CFG originated the financing for the undisclosed borrower.
WICHITA, KAN. — General contractor Icon Structures is underway on an adaptive reuse project for Sedgwick County Government in Wichita. The project that will convert a 105-year-old building that formerly housed a car dealership into the new COMCARE Community Crisis Center (CCC). The development will expand access to mental health services and consolidate the county’s services into a single building adjacent to the new Wichita Biomedical Campus (WBC). Helix Architecture + Design is leading the transformation. Helix is also part of the architecture and interiors team, along with CO Architects, for the WBC, a joint initiative of the University of Kansas Medical Center, Wichita State University and WSU Tech to establish a regional health sciences educational hub. Once operational, the CCC will offer WBC students hands-on clinical mental health training and possible career internships. The building will transition COMCARE, a certified community behavioral health clinic, from a residential facility to a new level of care as a crisis intervention center (CIC), providing stabilization services to those with more serious mental health needs. The CIC will allow for a centralized 9-8-8 suicide and crisis lifeline call center operations and 24/7 access to medical providers. It will also accommodate mental health services …
CHICAGO — Friend Health, a federally qualified health center (FQHC) serving Chicago’s South Side, has opened its new Back of the Yards community health center. The opening represents the largest expansion in Friend Health’s nearly three decades of service. Located in the Oppenheimer-Goldblatt Bros. Department Store Building at 4700 S. Ashland Ave., the 15,000-square-foot facility is part of the New City United Yards development. The center has triple the footprint of Friend Health’s former neighborhood site and offers primary care and preventive care. Offerings include adult and pediatric primary care, maternal health and mental health, an onsite pharmacy with discounted prescriptions and a full-service laboratory. The clinic features 21 exam rooms with dedicated spaces for pediatrics, adult medicine, OB-GYN and behavioral health, along with community programming such as insurance enrollment, social services navigation, fresh food giveaways and workforce development through a community health worker training program. Dental care is planned for 2026. Friend Health serves more than 40,000 patients annually across the South Side, with six neighborhood health centers and six HRDI behavioral health clinics. The organization offers care regardless of ability to pay.
DURHAM, N.C. — CBRE has arranged the sale of EmergeOrtho Southpoint, a 35,171-square-foot medical outpatient building (MOB) and ambulatory surgery center (ASC) located within the larger Westpoint development in Durham. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin, Tom Fritsch and Joe Graham of CBRE represented the seller. Both the buyer and seller requested anonymity. EmergeOrtho Southpoint serves as a comprehensive orthopedic care center and is fully occupied by EmergeOrtho, North Carolina’s largest orthopedic group, and its affiliate Southpoint Surgery Center, which is a joint venture between EmergeOrtho and Surgery Partners. The remaining lease term for the building is more than 13 years. The property, which was constructed in 2020, features two operating rooms and four procedure rooms.
NEW YORK CITY — Lument Securities has arranged the $140 million sale of four long-term healthcare communities in West Virginia. Marx Development Group (MDG) purchased the 511-bed portfolio and has selected its subsidiary, Majestic Care, to operate the communities. Laca Wong-Hammond of Lument Securities represented the seller, the State of West Virginia, in the transaction. The properties include Hopemont Hospital in Terra Alta, Jackie Withrow Hospital in Beckley, John Manchin Sr. Health Care Center in Fairmont and Lakin Hospital in West Columbia. In addition to funding the purchase, the closing provides for a minimum of another $80 million that MDG has committed to using for the construction of three to five new long-term care communities in the coming years.
CHEEKTOWAGA, N.Y. — Cleveland-based brokerage firm Cooper Commercial Investment Group has negotiated the sale of a medtail clinic in Cheektowaga, located just east of Buffalo, that is occupied by cannabis dispenser Verilife. According to LoopNet Inc., the facility at 3760 Union Road was built in 1989 and spans 3,606 square feet. Dan Cooper of Cooper Commercial represented the undisclosed, New York-based seller in the transaction. The buyer was also not disclosed.
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