GRAND PRAIRIE, TEXAS — Mycon General Contractors has completed construction of a new, 6,997-square-foot First Choice Emergency Room in the Dallas-Fort Worth metro of Grand Prairie. Situated on 0.9 acres at 901 W. Jefferson St., the $3.5 million, freestanding medical clinic features on-site labs and digital imaging suites. A service station and convenience store previously occupied the site, construction on which began in August 2016.
CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has negotiated the sale of 18 skilled nursing facilities located throughout the Midwest for $82 million. The portfolio included nine properties in Kansas, six in Missouri, two in Iowa and one in Nebraska. The specific names and locations of the properties were not disclosed. The regional portfolio comprises 1,843 total licensed beds and generated approximately $110 million in revenue on a trailing basis at..
STRATFORD, CONN. — Cushman & Wakefield has brokered a 10-year lease extension totaling 100,968 square feet for Yale New Haven Health (YNHH) and North East Medical Group (NEMG) at 99 Hawley Lane in Stratford. Jay Hruska of Cushman & Wakefield led the leasing efforts on behalf of the tenants, while Joseph Codi internally represented building owner Mountain Development. YNHH and NEMG will house multiple office and support functions at the location. 99 Hawley Lane, also known as Merritt 8..
Strawberry Fields Receives $4.4M HUD Loan for Refinancing of Skilled Nursing Facility in Scottsburg, Indiana
SCOTTSBURG, IND. — Strawberry Fields REIT LLC has received a $4.4 million HUD guaranteed loan for the refinancing of The Waters of Scottsburg, a skilled nursing facility in southern Indiana. The 99-bed facility is currently 69 percent occupied. Strawberry Fields, which owns 57 facilities largely located in the Midwest, acquired the building in 2014. The fixed-rate loan features a 35-year term.
NORTH HILLS, NEW YORK — Cushman & Wakefield has arranged the $14.7 million sale of a two-story medical office building located at 3111 New Hyde Park Road in North Hills. Cushman & Wakefield’s Ben Efraimov, Jonathan Hageman and Patrick Yannotta handled the transaction. The property traded at a 6 percent cap rate. The building spans 24,600 square feet and is 100 percent occupied by three medical tenants. Integrated Medical Professionals occupies the front of the building and leases..
CHERRY HILL, N.J. — CBRE’s capital markets debt and structured finance team has secured a $41 million acquisition loan for a 155,000-square-foot medical office building located at 1865 Marlton Pike E. in Cherry Hill. The property, which is leased on a long-term basis to University of Pennsylvania Health System, serves as a primary care center and clinical offices for medical practices including cardiology and radiology. CBRE’s Nick Harris, Steve Roth and Steven Doherty procured financing..
Portsmouth, N.H. — The Kane Co. has negotiated a 4,081-square-foot lease for Medical Billing & Consulting in Portsmouth. Catie Medeiros of The Kane Co. represented the tenant in the lease at 95 Brewery Lane. Medical Billing & Consulting specializes in solving medical billing and revenue cycle challenges for healthcare clients. The property is located in the Malthouse Exchange Plaza, joining other tenants including Seacoast Sports Club, MoJo’s BBQ Grill, Portsmouth Center for Yoga..
SAN DIEGO — Breaking down the silos between the traditional real-estate-based seniors housing providers and the growing number of health, wellness and supportive services providers will lead to better health outcomes for residents and slow the long-term growth of medical costs. But it’s a shift that won’t happen overnight. That’s one of the key messages Bob Kramer, founder and CEO of the National Investment Center for Seniors Housing & Care (NIC), aims to deliver. The 2017 NIC..
BOSTON — Tryko Partners has acquired the Spaulding Nursing and Therapy Center in Boston. Under the guidance of Marquis Health Services, Tryko’s healthcare affiliate, a $4 million renovation program will launch immediately. Tryko purchased the 100-bed skilled nursing facility from Spaulding Rehabilitation Network. Spaulding will continue to manage the property through late 2017, at which time operation will transition to Marquis Health Services. Located at 70 Fulton Street, Spaulding Nursing..
Facing shortages in construction labor and obstacles in originating financing for new projects, developers who specialize in healthcare properties are starting to think smaller, according to a recent study by Indianapolis-based REIT Duke Realty Corp. This means more micro hospitals. Micro hospitals are similar to community and small-town medical facilities — a hybrid of urgent care centers and full-fledged hospitals. They offer significantly fewer inpatient beds than regular hospitals —..