REBusinessOnline

Healthcare

Caddis Acquires Medical Office Properties in El Paso, Plano

EL PASO AND PLANO, TEXAS — Dallas-based healthcare real estate firm Caddis has acquired two medical office properties in El Paso and Plano. The company has purchased George Dieter Medical Plaza, a 15,005-square-foot property located at 1393 George Dieter Drive in El Paso, a transaction for which Capital One provided the acquisition financing. Caddis has also acquired a 21,246-square-foot building located at 5228 W. Plano Parkway in Plano, which is currently leased to Plano Orthopedic Sports..

May 26, 2017

Construction Begins on Center for Healthcare Technology in Philadelphia

PHILADELPHIA — Penn Medicine and IMC Construction have broken ground on the new Center for Healthcare Technology in Philadelphia. Located on Civic Center Boulevard, the first phase of the project will be a 250,000-square-foot, eight-story office building. The facility will be used for information technology and human resources. A second phase of the project will add an additional 10 stories totaling 290,000 square feet, bringing the tower to a total height of 18 stories and 540,000 square..

May 25, 2017

KeyBank Provides $15.3M Refinancing for Skilled Nursing Portfolio in Indiana

NOBLESVILLE AND LAFAYETTE, IND. — KeyBank Real Estate Capital has provided $15.3 million in loans for the refinancing of a two-property skilled nursing portfolio in Indiana. KeyBank provided a $9.6 million loan for Trilogy-Prairie Lakes Health Campus located in Noblesville, about 25 miles north of Indianapolis. Built in 2010, the 132-bed facility consists of 49 skilled nursing units, 33 assisted living units and 29 memory care units. KeyBank provided a $5.7 million loan for Trilogy-St. Mary..

May 25, 2017

Bull Realty Brokers $16.8M Sale of Medical Office Building in Athens, Georgia

ATHENS, GA. — Atlanta-based Bull Realty has brokered the $16.8 million sale of The Exchange, a two-building medical office campus in Athens spanning 61,203 square feet. St. Mary’s Healthcare System occupies all of Building 300 and the majority of the space in Building 200. Services at this location include full modality outpatient diagnostic imaging, wellness, cardiology, neurology, and endocrinology. Other tenants include Athens Dentistry for Children and Athens Oconee Dentistry at the..

May 23, 2017

Laurus Arranges $22.5M Sale of Hilton Garden Inn in Metro Philadelphia

FORT WASHINGTON, PA. — Laurus Corp. has arranged the $22.5 million sale of the Hilton Garden Inn located in the Philadelphia suburb of Fort Washington. Laurus acted as sponsor on behalf of Ethika Diversified Opportunity Real Estate Fund. After acquiring the hotel in 2013, Laurus implemented a $2.5 million value-add strategy including a renovated lobby and outdoor seating areas as well as enhancements to the guest rooms. Laurus also selected a new management company. The property is located..

May 22, 2017

Cleveland Clinic, Rendina Break Ground on $32M Medical Office Building in Broward County

CORAL SPRINGS, FLA. — A joint venture between Cleveland Clinic and Rendina Healthcare Real Estate has broken ground on Family Health Center, a $32 million medical office building located at the intersection of University Drive and Sawgrass Expressway in Coral Springs, a town in South Florida’s Broward County. Situated on 5.3 acres, the three-story property will span 72,000 square feet and feature clinical space, diagnostic imaging and an ambulatory surgery center. Cleveland Clinic will..

May 18, 2017

E.E. Reed Completes 176,836 SF Medical Office Building in The Woodlands

THE WOODLANDS, TEXAS — E.E. Reed Construction LP has completed a six-story, 176,836-square-foot medical office building on the Memorial Hermann Woodlands campus in the northern Houston suburb of The Woodlands. Balfour Concord served as construction manager on the development and Powers Brown Architecture served as designer for the project.

May 18, 2017

Bull Realty Brokers $3.3M Sale of Medical Facility in Columbus, Ohio

COLUMBUS, OHIO — Bull Realty has brokered the sale of a BIOMAT specialty medical facility in Columbus for $3.3 million. The 14,957-square-foot property is a plasma collection facility, one of over 200 collection facilities in 32 states owned by parent company Grifolis. The single-tenant, net-leased property is situated on 3.4 acres. BIOMAT has nine years remaining on the triple-net lease. Michael Bull and Nancy Miller of Atlanta-based Bull Realty represented the buyer, Apple Ridge/Cherry..

May 16, 2017

Missner Group to Renovate, Expand Illinois Bone & Joint Institute in Chicago

CHICAGO — The Illinois Bone & Joint Institute (IBJI) has selected The Missner Group to undertake a renovation and expansion project for the company’s North Canal Street offices in Chicago. The 2,900-square-foot expansion will include interior improvements, a new physical therapy gym, reception area, paint and flooring. Heath Yarger is the project manager and Steve Bulger is the project superintendent for The Missner Group. Stephen Rankin Associates is providing the architectural..

May 15, 2017

EDGE Brokers Sale of 21,246 SF Medical Office Asset in Plano

PLANO, TEXAS — EDGE Realty Capital Markets has brokered the sale of Plano Orthopedic, a 21,246-square-foot medical office asset located at 5228 W. Plano Parkway. Wilson Stafford, John Mungioli and Brandon Crow of EDGE represented the seller, Orthopedic Network Ltd., in the transaction. An affiliate of healthcare facilities developer Caddis purchased the property, which currently houses Plano Orthopedic & Sports Medicine Center Inc., for an undisclosed price.

May 15, 2017