BEDFORD, N.H. — Montecito Medical Real Estate, a healthcare investment and development firm with four offices around the country, has acquired a 30,500-square-foot medical office building in Bedford. The property, which is located just south of Manchester and about 50 miles north of Boston, was fully leased to New Hampshire NeuroSpine Institute at the time of sale. The facility was built in 2004 and features an ambulatory surgery center with two operating rooms, four prep and recovery rooms and an MRI imaging suite. The second floor is primarily devoted to clinical office space and a physical therapy rehab center. The seller and sales price were not disclosed.
SPRINGFIELD, MASS. — CIT Group Inc. has arranged a $24.7 million acquisition loan for a medical office complex located in the western Massachusetts city of Springfield. The borrower was a joint venture between Los Angeles-based Kayne Anderson Real Estate Advisors and Chicago-based MBRE Healthcare. The property consists of multiple buildings that house a mix of service providers, including ambulatory surgery, women’s health, ophthalmology, urology, podiatry and sleep medicine. The seller was not disclosed.
MALDEN, MASS. — Burgess Properties Inc., a brokerage firm serving the greater Boston area, has arranged the $2.8 million sale of a medical office building located at 450 Pearl St. in Malden, a northern suburb of Boston. The property spans 11,790 square feet, features 70 parking spaces and formerly housed the headquarters of North Suburban Orthopedics Inc. Steve Nohrden of Burgess Properties brokered the deal between the undisclosed seller and the buyer, MIC Pearl Property LLC.
INDIANAPOLIS — JLL’s Healthcare Capital Markets division has arranged the sale of a 143,499-square-foot Class A outpatient facility on the campus of Indiana University Health Methodist Hospital in Indianapolis. It is the largest hospital complex in Indiana with 1,411 staffed beds. Known as Methodist Professional Center II, the facility is fully occupied by Indiana University Health and its affiliates. Built in 1992, the four-story property sits on 1.4 acres. Mindy Berman, Justin Hill and Bruce Gordon of JLL advised the seller, Sanders Trust. Healthcare Realty Trust purchased the property for an undisclosed price.
BRANDYWINE, MD. — Avison Young has brokered the $20.6 million sale of a Class A medical office building located in the Washington, D.C. suburb of Brandywine. Maryland-based investment firm Foulger-Pratt sold the property to Milwaukee-based Hammes Partners. The 61,614-square-foot building was completed in 2016 and was 92 percent leased at the time of sale to healthcare providers such as Johns Hopkins and Physicians Reliance. Jim Kornick, Chip Ryan, Mike Wilson, Erik Foster, Mark Johnson and Georgianna Condoiu of Avison Young represented the seller in the transaction.
BIG SPRING, TEXAS — Quorum Health Corp. (NYSE: QHC), an operator of general acute care and outpatient facilities across the country, has sold Scenic Mountain Medical Center, a 146-bed healthcare facility in Big Spring, about 40 miles east of Midland in West Texas. Total proceeds from the sale were approximately $22 million. The buyer was not disclosed.
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.
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.
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.
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.