ANN ARBOR, MICH. — Granger Construction will build a 25,000-square-foot expansion for the cancer center at St. Joseph Mercy Ann Arbor in Southeast Michigan. Granger will break ground on the $24 million project in September, with completion slated for November 2018. A redesigned entrance will feature a two-story glass atrium. The main floor of the new cancer center will feature an expanded infusion suite with 22 private bays and a serenity garden. Patient care will take place on the second..
FORT WORTH AND AUSTIN, TEXAS — Irvine, Calif.-based investment firm IRA Capital LLC has sold a portfolio of fully leased medical office properties totaling 137,686 square feet in Fort Worth and Austin. The portfolio includes The Center for Cancer & Blood Disorders and Baylor Health Center at Magnolia Greens, both in Fort Worth, and Cedar Park Medical Center in Austin. HFF represented IRA Capital in the transaction and procured the buyer, a publicly traded healthcare REIT.
BURBANK, GALION AND SHELBY, OHIO — Berkeley Point Capital has provided three HUD 232/223(f) loans for the refinancing of nursing homes in Ohio for borrower JAG Healthcare Group Inc. Berkeley Point Capital provided a $6 million loan for Burbank Parke Care Center, an 86-bed facility located in Burbank, about 45 miles south of Cleveland. A $1 million loan will be used for Galion Pointe, a 45-bed facility in Galion, about 60 miles north of Columbus. A $1.4 million loan will be used for Shelby..
ATLANTA — Cushman & Wakefield has secured a 58,558-square-foot lease renewal and 18,339-square-foot lease expansion with Resurgens Orthopaedics at Doctors Center I-III located on the Emory Saint Joseph’s Hospital campus in Atlanta. George Olmstead of Cushman & Wakefield represented the landlord, Lillibridge Heathcare Services, a wholly owned subsidiary of Ventas Inc., in the lease transaction. Michael Lipton and Andrew Walker of Colliers International represented Resurgens..
NEW YORK CITY — Case Real Estate Capital has funded a $16 million first mortgage loan secured by a commercial redevelopment site in the Flushing neighborhood of Queens. The borrower is Regent Medical Properties. The loan proceeds will be utilized to facilitate the acquisition of land and initiate pre-development work on the 20,803-square-foot site. The land parcel is slated for a 12-story medical office building with an ambulatory surgery center and street-level commercial space.
ATLANTA — Healthcare Realty Trust Inc. (NYSE: HR), a healthcare REIT based in Nashville, has agreed to purchase 15 medical office buildings located in the metro Atlanta area from Meadows & Ohly for $612.5 million. More than 85 percent of the portfolio is located on hospital campuses, and all of the assets are associated with three leading health systems in Atlanta. The portfolio spans 1.3 million square feet and was 96.2 percent leased at the time of the deal announcement. The assets have..
PLYMOUTH, MINN. — A joint venture between HSA PrimeCare and USAA Real Estate has acquired a 45,722-square-foot medical office building in Plymouth, a western suburb of Minneapolis. The purchase price was not disclosed. North Clinic anchors the building, which was built in 2014 and is located within Plymouth’s City Center. HSA PrimeCare and USAA Real Estate announced the formation of its joint-venture equity fund in 2016, which is positioned to acquire and develop healthcare facilities..
SAN ANTONIO — A partnership between Artemis Real Estate Partners, Ackerman & Co. and MLL Capital has purchased a four-building portfolio of medical office properties totaling 423,411 square feet in San Antonio. The 128,578-square-foot Santa Rosa Professional Pavilion and the 123,324-square-foot Rosa Verde Tower are located in the city’s CBD and Northwest Towers I and II, which total 171,509 square feet, are located within the South Texas Medical Center. Lee Asher, Chris Bodnar and Scott..
SUGAR LAND, TEXAS — TierOne Development has broken ground on a 38,600-square-foot medical office property at 7619 Branford Place in the Houston metro of Sugar Land. Slated for a second-quarter 2018 completion, the Class A building is being developed on a speculative basis. Tim Gregory and Ashley Cassel of Transwestern’s Healthcare Advisory Services team will handle leasing of the property.
JUPITER, FLA. — Berkadia has arranged a $31 million bridge loan for Jupiter Medical & Technology Park, a 186,000-square-foot medical office building and research facility located at 1701 Military Trail in Jupiter, roughly 20 miles north of West Palm Beach. Charles Foschini and Christopher Apone of Berkadia arranged the three-year, floating-rate loan on behalf of the borrower, Biscayne Atlantic, through Silverpeak Argentic. Constructed in 1990, Jupiter Medical & Technology Park houses..