Healthcare

Walgreens, VillageMD to Unveil New Clinic Concept at Five Houston Stores

by Taylor Williams April 15, 2019

HOUSTON — A newly formed partnership between Walgreens Boots Alliance (NASDAQ: WBA) and Chicago-based healthcare provider VillageMD will be opening clinics next to five Walgreens stores in Houston as part of the Illinois-based retailer’s attempt to enter the primary care space. Houston-based Pinpoint Commercial will handle development and construction management for VillageMD. Each clinic will feature multiple exam rooms and education space while also housing multiple primary care doctors. The partnership expects to test the concept in other cities following the rollout of the program in Houston.

April 15, 2019

Healthcare Loans Texas

CIT Arranges $14.8M Acquisition Loan for Dallas Medical Office Building

by Taylor Williams April 15, 2019

DALLAS — CIT Group Inc. (NYSE: CIT) has arranged a $14.8 million acquisition loan for Greenville Medical Tower, a six-story medical office building in Dallas. The property is located across the street from the 857-bed Texas Health Presbyterian Hospital Dallas. CIT’s healthcare finance team arranged the funds on behalf of a joint venture managed by Catalyst Healthcare Real Estate and Bain Capital Real Estate.

April 15, 2019

Acquisitions California Healthcare Loans Western

CIT Group Arranges $36.8M in Acquisition Financing for Bakersfield Heart Hospital in California

by Amy Works April 12, 2019

BAKERSFIELD, CALIF. — CIT Group’s Healthcare Finance business served as the sole lead arranger for $36.8 million in acquisition financing. The borrower, The Sanders Trust, will use the funds to purchase Bakersfield Heart Hospital. The lender was not disclosed. Located in Bakersfield, the hospital specializes in diagnosis and treatment of heart and vascular disease, as well as a wide range of other medical and surgical procedures. The hospital will continue to be owned and managed by its current team of more than 400 employees, cardiologists, physicians and surgeons in Bakersfield and Kern County, Calif.

April 12, 2019

Healthcare Loans Louisiana Southeast

Bellwether Enterprise Secures $21M Loan for New Medical Office Building in New Orleans

by Alex Tostado April 11, 2019

NEW ORLEANS — Bellwether Enterprise has arranged a $21 million permanent loan for Ochsner Health Clinic, a new medical building in New Orleans. The three-story, 58,137-square-foot facility will be located at 1532 Robert E. Lee Blvd., five miles north of downtown New Orleans. The property will offer obstetrics, pediatrics and internal medicine facilities, as well as a full-service imaging center, laboratory and a retail pharmacy. Matt Good of Bellwether’s South Carolina office arranged the loan on behalf of the undisclosed borrowers through Voya Investments.

April 11, 2019

Acquisitions Healthcare Texas

HFF Negotiates Sale of 57,250 SF Healthcare Property in San Antonio

by Taylor Williams April 4, 2019

SAN ANTONIO — HFF has negotiated the sale of The Children’s Hospital of San Antonio Health Pavilion, a newly built, 57,250-square-foot hospital and medical office building located in the Stone Oak area of San Antonio. The property, which is situated adjacent to the 242-bed Methodist Stone Oak Hospital, was fully leased at the time of sale. Evan Kovac, Ben Appel, Andrew Milne, Matt DiCesare, Maria Poyer and John Taylor of HFF represented the seller, New York-based Seavest Healthcare Properties LLC, and procured the buyer, Chicago-based Harrison Street. John Chun of HFF arranged an undisclosed amount of debt for the acquisition.

April 4, 2019

Development Healthcare Midwest Nebraska

Darland Breaks Ground on 38,844 SF Health Clinic in Millard, Nebraska

by Kristin Harlow April 3, 2019

MILLARD, NEB. — Darland Construction Co. has broken ground on the new CHI Health Clinic Millard, a 38,844-square-foot facility near Omaha. The clinic will feature 59 exam rooms and focus on primary care with specialties of radiology, ultrasound, behavioral health, nutrition and physical therapy. The property will be located south of an existing clinic near 153rd and Q streets. A partnership between CHI Health and Denver-based NexCore Group is developing the project. Completion is slated for spring 2020.

April 3, 2019

Acquisitions Healthcare Retail Texas

J. Beard Brokers Sale of 11,000 SF Medical Retail Building in Metro Houston

by Taylor Williams April 2, 2019

TOMBALL, TEXAS — The J. Beard Real Estate Co. has brokered the sale of Preserve Plaza, an 11,000-square-foot medical retail building in Tomball, a northern suburb of Houston. Lisa Hughes and Cathy Young of J. Beard represented the seller, EPB Land Developments LP, in the transaction. Duke Iqbal of IQ Realty Group represented the buyer, Spectre Innovations LLC. The property is currently leased to a dental practice, and the new owner will occupy the remaining space

April 2, 2019

Global-Medical-REIT-Portfolio-Chandler-AZ

Acquisitions Arizona Healthcare Office Western

Global Medical REIT Buys Three-Building Medical Office Portfolio in Arizona for $16.1M

by Amy Works April 2, 2019

CHANDLER AND GILBERT, ARIZ. — Bethesda, Md.-based Global Medical REIT has purchased a three-building medical office portfolio, totaling 39,305 square feet in Chandler and Gilbert, for $16.1 million, or $410 per square foot. Cushman & Wakefield represented the anchor tenant and seller, a local gastroenterology practice, in the sale. The seller will continue to operate out of the properties under a long-term sale/leaseback arrangement. The portfolio also includes two endoscopy centers, one of which is owned and operated by a joint venture between local physicians, Dignity Health and United Surgical Partners, a national surgery center operator. Devpal Gupta and Peter Menna of Cushman & Wakefield’s Phoenix office collaborated with Travis Ives of Cushman & Wakefield’s national Healthcare Capital Markets team to represent the seller in the assignment.

April 2, 2019

California Healthcare Leasing Activity Western

Voit Real Estate Arranges $148M Lease to Bring VA Outpatient Clinic to San Diego

by Amy Works April 1, 2019

SAN DIEGO — Voit Real Estate Services has arranged a 20-year, $148 million lease of an existing, 100,000-square-foot facility located at 8875 Aero Drive in San Diego. The United States Department of Veterans Affairs (VA) leased the property from Protea Properties, which acquired the asset in August 2017. Brandon Keith and Kipp Gstettenbauer of Voit’s San Diego office, along with Voit’s Private Client Group, directed the lease. The facility, which is situated on 7.7 acres, will be transformed into a state-of-the-art VA outpatient clinic — the only one of its kind in Southern California. Once completed, the new clinic will total 140,000 square feet and feature significant interior and exterior upgrades, as well as a new multi-level parking structure.

April 1, 2019

Arizona Development Healthcare Office Western

Irgens Breaks Ground on 47,322 SF Office/Healthcare Building in Scottsdale

by Amy Works April 1, 2019

SCOTTSDALE, ARIZ. — The Phoenix office of Irgens has broken ground on 17 Three Hundred at Perimeter Center, a two-story office/healthcare building in Scottsdale. Located at 17300 N. Perimeter Drive, the property will feature 47,322 square feet of Class A office and healthcare space. Additionally, the building will feature extensive glass lines, contemporary horizontal window shades, balconies, operable windows and mature landscaping. Slated for completion in October, the building will be the second property in the Irgens Perimeter Center project. The project team includes Irgens Partners as developer, Vertical Design Studio as architect, RSG Builders as contractor and Greg Mayer of Cushman & Wakefield as leasing agent.

April 1, 2019

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