Healthcare

Front-Medical-Office-Park-Westminster-CO

Unique Properties Brokers $3.3M Sale of Medical Office Park in Colorado

by Amy Works August 21, 2019

WESTMINSTER, COLO. — Unique Properties/TCN Worldwide has arranged the sale of Front Range Medical Office Park, a four-building property located at 8402-8406 Clay St. and 8403-8407 Bryant St. in Westminster. An undisclosed buyer acquired the complex from an undisclosed seller for $3.3 million, or $253.26 per square foot. Situated on 2.2 acres, the asset features 13,030 square feet of medical office space. At the time of sale, the property was fully occupied by two medical tenants with long-term leases. Sam Leger and Tim Finholm of Unique Properties/TCN Worldwide represented both parties in the transaction.

August 21, 2019

Development Healthcare South Carolina Southeast

Hammes Breaks Ground on 70,000 SF Medical Office Building Near Hilton Head Island

by Alex Tostado August 15, 2019

OKATIE, S.C. — Hammes Co. has broken ground on a 70,000-square-foot medical office building in Okatie. Scheduled to open in late 2020, the three-story building will expand services in the surrounding area and supplement Beaufort Memorial’s existing acute care regional hospital. The new facility will provide primary care, OB-GYN, orthopedics, urgent care, cardiology, gastroenterology, neurology, vascular and general surgery, a breast health center, outpatient rehabilitation, laboratory and imaging services and a full-service cancer center. Hammes will develop, own and manage the property. Okatie is located 15 miles west of Hilton Head Island.

August 15, 2019

Acquisitions Georgia Healthcare Southeast

Regional Health Properties Sells Three Skilled Nursing Facilities Nationwide for $24.1M

by Alex Tostado August 8, 2019

SUWANEE, GA. — Suwanee-based Regional Health Properties (RHP) has sold three of four skilled nursing properties located in Oklahoma, Alabama and Georgia to affiliates of MED Healthcare Partners. The four-property transaction was previously disclosed by RHP in April. The three properties were sold for $26.1 million in a cash deal. RHP and MED agreed to extend the closing date on the fourth property located in Oklahoma to Sunday, Aug. 18. RHP used the cash proceeds from the sale to pay approximately $1 million in outstanding interest, fees and other costs and to repay $24.7 million in debt, which was secured by the four skilled nursing facilities, subject to the purchase and sale agreement. As a result of such repayment, RHP has paid back all debt owing to Pinecone Realty Partners II and Congressional Bank. For a period of three months following the repayment, Pinecone will continue to hold a right of first refusal to provide first mortgage financing for any acquisition of a healthcare facility by RHP and an exclusive option to refinance the company’s existing first mortgage loan on RHP’s Coosa Valley Health Care facility.

August 8, 2019

Acquisitions Healthcare Southeast Virginia

Montecito Medical Buys Medical Office Building in Lynchburg, Virginia in Sale-Leaseback Deal

by Alex Tostado August 6, 2019

LYNCHBURG, VA. — Montecito Medical has bought an 88,000-square-foot medical office building (MOB) in Lynchburg from OrthoVirginia in a sale-leaseback. Constructed in 2008, the facility was a build-to-suit for OrthoVirginia, which fully occupies the MOB. The building is located at 2405 Atherholt Road, less than a mile from Lynchburg General Hospital. OrthoVirginia provides services including general orthopedics, physical therapy, sports medicine and care for joint replacement patients. The sales price was not disclosed.

August 6, 2019

Acquisitions Healthcare Retail Texas

TIG Real Estate Sells 75,000 SF Retail, Medical Office Property in Metro Houston

by Taylor Williams August 1, 2019

PEARLAND, TEXAS — TIG Real Estate Services has sold Sunrise Lake, a 74,612-square-foot retail and medical office property located in the southern Houston suburb of Pearland. Sunrise Lake offers roughly 50,000 square feet of office/medical office space and approximately 24,500 square feet of retail space, which was a combined 86 percent leased at the time of sale. Dan Miller, John Indelli and Bryan Strode of JLL represented TIG in the transaction and procured the undisclosed buyer.

August 1, 2019

Acquisitions Healthcare Midwest Multifamily Northeast Ohio Seniors Housing Southeast Texas Top Stories Western

Welltower Shakes Up Portfolio, Commits to Nearly $2.75B in Transactions

by Alex Tostado August 1, 2019

TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has expanded its senior living portfolio to the tune of 15 properties worth $949 million across the country. Simultaneously, the healthcare REIT giant exited its partnership with seniors housing operator Benchmark Senior Living, selling its 48-property portfolio to an undisclosed buyer for $1.8 billion. The 48 properties that Benchmark operates total 4,137 units and are located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. As part of the recapitalization, Benchmark will invest in improvements at the properties. Benchmark will continue to manage the portfolio under a new management agreement with the new capital partner. Ted Flagg of the JLL Capital Markets team represented Welltower in the Benchmark transaction. With the new acquisitions, Welltower expanded its footprint by entering into or expanding partner agreements with senior living operators Balfour Senior Living, Sunrise Senior Living and Discovery Senior Living. The three partnerships yielded 14 properties in Maryland, Colorado, California and Texas. Welltower acquired six properties from Balfour, including Balfour’s flagship Balfour at Riverfront in Denver and the recently opened Lavender Farms, for $308 million. The other four properties are situated in the Denver and Boulder metro areas. Additionally, Welltower has the option to …

August 1, 2019

Development Healthcare Midwest North Dakota

Kraus-Anderson Completes Construction of $12M Ambulatory Surgical Center in North Dakota

by Kristin Harlow July 30, 2019

BISMARCK, N.D. — Kraus-Anderson Construction Co. has completed construction of a new ambulatory surgical center for Bismarck Surgical Associates at 106 E. Greenfield Lane in Bismarck. The new facility will provide same-day surgical procedures. Designed by Sperides Reiners Architects, the $12 million facility features five operating rooms and 20 pre-operation and recovery rooms. The 36,450-square-foot property also includes a sterile processing area and decontamination room as well as an administrative area. The basement houses all mechanical, electrical and medical support equipment.

July 30, 2019

Development Healthcare Texas

Kelsey-Seybold to Open 37,000 SF Healthcare Clinic in Metro Houston

by Taylor Williams July 30, 2019

KATY, TEXAS — Multi-specialty healthcare provider Kelsey-Seybold will open a 37,000-square-foot clinic at Grand Morton Town Center, a 91-acre development by NewQuest Properties in the western Houston suburb of Katy. The two-story clinic is slated to be complete in April 2020 and has the capacity for 17,000 square feet of future expansion.

July 30, 2019

Development Healthcare Indiana Midwest

Cornerstone Develops New Facility for Goodman Campbell in Carmel, Indiana

by Kristin Harlow July 29, 2019

CARMEL, IND. — Cornerstone Cos. Inc. has completed the development and construction of a 38,537-square-foot medical office building for Goodman Campbell Brain and Spine in Carmel. The build-to-suit facility comprises medical office, treatment and administrative services. The building sits along U.S. 31 in the Meridian Corridor and includes covered physician parking. Goodman Campbell Brain and Spine specializes in neurosurgery.

July 29, 2019

Acquisitions Healthcare Texas

CBRE Negotiates Sale of 120,596 SF Medical Office Building in Metro Houston

by Taylor Williams July 29, 2019

SUGAR LAND, TEXAS — CBRE has negotiated the sale of CHI St. Luke’s Health Sugar Land Medical Plaza, a 120,596-square-foot medical office building located in the southwestern Houston suburb of Sugar Land. The five-story building is situated within the CHI St. Luke’s hospital campus. Shane Seitz, Chris Bodnar, Lee Asher, Ryan Lindsley, Sabrina Solomiany and Nelson Udstuen of CBRE represented the seller in the transaction. The buyer and other terms of sale were not disclosed.

July 29, 2019

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