Healthcare

Kraus-Anderson Set to Break Ground on New Hospital Wing at Hutchinson Health in Minnesota

by Kristin Harlow March 26, 2019

HUTCHINSON, MINN. — Kraus-Anderson is scheduled to break ground on a new hospital wing at Hutchinson Health in Minnesota on Monday, April 1. The one-year construction project will expand the hospital’s footprint by more than 17,000 square feet and will include 18 new patient rooms that are twice as big as the current rooms. Wold Architects and Engineers designed the expansion. Hutchinson Health, a part of HealthPartners, is located about 60 miles west of Minneapolis. The hospital currently has 66 beds and is classified as a Level 4 trauma center. It provides initial evaluation, stabilization, diagnostic capabilities and transfer to a higher level of care. A Level I trauma center offers the highest level of surgical care for trauma patients.

March 26, 2019

Acquisitions Healthcare Texas

CBRE Negotiates Sale of 34,049 SF Healthcare Property in Miami, Oklahoma

by Taylor Williams March 25, 2019

MIAMI, OKLA. — CBRE has negotiated the sale of Windridge Nursing Center, a 34,049-square-foot healthcare property located at 2530 N. Elm St. in Miami, near the Kansas border. The property was built in 1998 and is licensed for 100 beds. Daniel Morris of CBRE represented the seller, a private investor based on the West Coast, in the transaction. The buyer was a regional operator with existing facilities in the area.

March 25, 2019

Development Healthcare Texas

Kogut, Mittman Complete 25,240 SF Medical Office Building in San Marcos

by Taylor Williams March 25, 2019

SAN MARCOS, TEXAS — Two Austin-based firms, Kogut Commercial Real Estate and Mittman Real Estate have completed construction of Hunter Professional Plaza, a 25,240-square-foot medical office building located at 151 Stagecoach Trail in the Central Texas city of San Marcos. The property is currently 41 percent leased. Transwestern Commercial Services (TCS) is leasing the building.

March 25, 2019

Healthcare Loans Texas

MCA Arranges $40M Loan for Plano-Based Hospice Operator

by Taylor Williams March 22, 2019

PLANO, TEXAS — Metropolitan Capital Advisors (MCA) has arranged a $40 million business recapitalization loan for Heart to Heart Hospice, a Plano-based organization that operates 36 properties across Texas, Michigan and Indiana. Todd McNeill and Kevan McCormack of MCA arranged the loan, specific terms of which were not disclosed, through Cerberus Capital Management LP.

March 22, 2019

Acquisitions Healthcare New York Northeast Office

HFF Brokers $11.4M Sale of Medical Office Building on Long Island

by David Cohen March 22, 2019

GARDEN CITY, N.Y. — HFF has brokered the $11.4 million sale of a medical office building in the Long Island village of Garden City. Located at 224 7th St., the 16,920-square-foot property was built in 1969 and converted to a medical imaging facility in 2007. The facility is currently triple-net leased to the New York University School of Medicine. HFF represented the seller, Meridian Imaging Group, in the transaction. The buyer was undisclosed. Inland Real Estate Acquisitions facilitated the transaction.

March 22, 2019

Acquisitions Healthcare Illinois Midwest

HFF Arranges Sale of 135,093 SF Medical Office Building in Chicago

by Kristin Harlow March 22, 2019

CHICAGO — HFF has arranged the sale of Lakeshore Medical Center in Chicago. Completed in 2008, the 135,093-square-foot, five-story medical office building is attached to the 236-bed Weiss Memorial Hospital. Tenants at the property include Walgreens, Fresenius Medical Care and University Dermatology and Vein Clinic. Ben Appel, Evan Kovac, Andrew Milne, Matt DiCesare, Jeffrey Bramson and Bryan Rosenberg of HFF represented the seller, a partnership between CarVal Investors and Zeller Realty Group. The team also procured the buyer, an institutional investor. MBRE Healthcare will manage the asset.

March 22, 2019

Arizona Development Healthcare Western

Adelante Healthcare Opens $4.7M Healthcare Facility in Goodyear, Arizona

by Amy Works March 21, 2019

GOODYEAR, ARIZ. — Adelante Health Center has opened Adelante Health Center, its newest healthcare facility in Goodyear. Situated on 7 acres at 13471 W. Cornerstone Blvd., the 45,000-square-foot facility features a variety of services including family medicine, internal medicine, OB/GYN, family dental, behavioral health, on-site laboratory, pharmacy, WIC/nutrition and pediatrics. The $4.7 million facility is located just east of Abrazo West Campus Hospital. Adelante Healthcare is a nonprofit that operates 10 healthcare centers in Central Arizona.

March 21, 2019

Healthcare Loans Texas

HFF Arranges Refinancing of 130,959 SF Hospital in Tulsa

by Taylor Williams March 19, 2019

TULSA, OKLA. — HFF has arranged the refinancing of a 130,959-square-foot healthcare property in Oklahoma that is fully leased to Tulsa Spine & Specialty Hospital. The property was built in 2002 on 11.5 acres. Zack Holderman, Jason Bond and Elliott Throne of HFF arranged the fixed-rate financing through a national bank on behalf of an undisclosed borrower. The loan was executed in conjunction with the refinancing of a 60,800-square-foot medical office building in Wauwatosa, Wis.

March 19, 2019

Development Healthcare Texas

The Beck Group Tops Off 40,000 SF Medical Center in Bastrop, Texas

by Taylor Williams March 19, 2019

BASTROP, TEXAS — The Beck Group, an architecture and construction firm with offices around the country, has topped off Ascension Seton Bastrop Hospital, a 40,000-square-foot medical center in Bastrop, about 35 miles east of Austin. Situated on 32 acres adjacent to Highway 71, the property will offer a full emergency center with inpatient beds on the first floor and medical office space on the second floor. Completion is slated for June.

March 19, 2019

Acquisitions Connecticut Healthcare Multifamily Northeast Seniors Housing

Angel Commercial Negotiates $2.1M Sale of Former Nursing Home in Bridgeport

by David Cohen March 14, 2019

BRIDGEPORT, CONN. — Angel Commercial has negotiated the $2.1 million sale of the former Astoria Park Nursing Home in Bridgeport. Located at 725 Park Ave., the 61,344-square-foot building was acquired by the Bridgeport Rescue Mission, which will use the property for a new community care center. Founded in 1993, the Bridgeport Rescue Mission provides food, shelter, clothing, education, job training and counseling for the urban poor of Coastal Fairfield County. Jon Angel of Angel Commercial represented the seller, Laureate Astoria LLC, in the transaction.

March 14, 2019

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