Healthcare

Welltower Acquires Two Medical Office Buildings Near Los Angeles for $29.9M

by Amy Works December 10, 2018

WESTLAKE VILLAGE, CALIF. — Welltower has purchased two medical office buildings located in Westlake Village, approximately 40 miles from Los Angeles. Nadler Cypress Holdings2 LLC and La Venta LLC sold the assets for $29.9 million in an off-market transaction. Located at 1220 and 1250 La Venta Drive, the buildings offer a total of 50,000 square feet of medical office space. UCLA Health and Providence St. Joseph Health are anchor tenants at the fully occupied properties. Evan Kovac, Andrew Milne and Trent Jemmett of HFF represented the seller in the transaction. Anchor Health Properties will provide property management services for the buildings.

December 10, 2018

Healthcare Loans Massachusetts Northeast Office

Money360 Provides $4.2M Bridge Loan for Medical Office Building in Massachusetts

by David Cohen December 5, 2018

EAST LONGMEADOW, MASS. — Money360 has provided a $4.2 million bridge loan for Longmeadow Medical Center, a 22,000-square-foot medical office building. The property is located at 294 North Main St. in East Longmeadow, approximately five miles southeast of Springfield. Terms of the recourse loan include a 24-month term and an 8 percent interest rate. The borrower was undisclosed.

December 5, 2018

Development Healthcare Texas

Adolfson & Peterson to Build $32M Sports Medicine Facility in Waco

by Taylor Williams December 3, 2018

WACO, TEXAS — Adolfson & Peterson Construction will build a $32 million, 106,000-square-foot sports medicine facility in Waco. Designed by HKS Architects, the property will be situated on the Baylor Scott & White Hillcrest campus, adjacent to the interchange of Interstate 35 and State Highway 6, about 6.5 miles from Baylor University. Services will include an orthopedic and sports medicine clinic, outpatient surgery center and a diagnostic imaging center. Construction began in November. The facility is expected to be operational by 2020.

December 3, 2018

Development Healthcare Illinois Midwest

Ankura, Medicus Capital Break Ground on 50,000 SF Outpatient Care Center in Kildeer, Illinois

by Kristin Harlow December 3, 2018

KILDEER, ILL. — Ankura Healthcare Real Estate Solutions and Medicus Capital have broken ground on a 50,000-square-foot outpatient care center in Kildeer. The new facility will be located on a five-acre site at the corner of Rand and Cuba roads. Northwest Community Healthcare will occupy the facility. Slated for completion in late 2019, the building will be home to primary care, physical therapy and cardiac rehab and include an immediate care center, advanced imaging center and lab. Leopardo Cos. Inc. is the contractor and Jensen & Halstead Ltd. is the architect. Lake Forest Real Estate Capital LLC arranged $19.1 million in development financing through Wintrust Financial.

December 3, 2018

Acquisitions Healthcare New York Northeast

Jacobson Properties, Crisafulli Associates Broker $10M Sale of Medical Office Building in New York

by David Cohen November 30, 2018

NISKAYUNA, N.Y. — Jacobson Properties and Crisafulli Associates have brokered the $10 million sale of Albany Med at Niskayuna, a 37,821-square-foot medical office building in Niskayuna. The property is fully leased by Albany Medical College, which houses Albany Med EmUrgentCare, Albany Med’s Gastroenterology and Community Services medical group, laboratory services and an ambulatory surgical center. Lisa Menin of Jacobson Properties and Michael Crisafulli of Crisafulli Associates represented the undisclosed seller in the transaction. The buyer was a privately held healthcare real estate investment firm.

November 30, 2018

Acquisitions Healthcare Iowa Midwest

Carter Validus Purchases Healthcare Facility in Clive, Iowa for $23.5M

by Kristin Harlow November 30, 2018

CLIVE, IOWA — Carter Validus Mission Critical REIT II Inc. has purchased the Clive Healthcare Facility for $23.5 million. The 58,156-square-foot property is situated on one acre in Clive, about 10 miles east of Des Moines. Constructed in 2008, the facility is fully leased and anchored by an ambulatory surgery center. The seller was not disclosed.

November 30, 2018

Healthcare Loans Top Stories

Capital One Provides $329.6M Refinancing for Two Medical Office Portfolios

by Taylor Williams November 27, 2018

MCLEAN, VA. — Virginia-based Capital One has provided $329.6 million in loans for the refinancing of two medical office portfolios totaling 56 properties in various markets around the country. The borrower in both deals was a joint venture between Kayne Anderson Real Estate and MB Real Estate Healthcare. In the first transaction, Capital One provided a $107 million adjustable-rate loan for the refinancing of a medical office portfolio comprising 20 properties totaling 789,000 square feet. The portfolio consists of eight on-campus facilities, 11 off-campus facilities, and one adjacent to a hospital campus. In the second transaction, Capital One provided a $222.6 million adjustable-rate loan for the refinancing of a 36-property medical office portfolio. Specific property types and names within this portfolio were not disclosed. Since 2012, Capital One has executed more than 40 transactions for the Kayne Anderson/MBRE Healthcare joint venture. “This deal is an extension of a long line of transactions we’ve closed for Kayne Anderson and MBRE Healthcare,” says Erik Tellefson, managing director of Capital One Healthcare Real Estate. “Our relationship and understanding of their goals were critical in developing a financing solution that aligns with the strategic plans for the portfolio.” Kayne Anderson Real Estate invests in …

November 27, 2018

Healthcare Loans New York Northeast

Ariel Property Advisors Arranges $41M Refinancing for Medical Office Portfolio

by David Cohen November 26, 2018

NEW YORK CITY — Ariel Property Advisors has arranged a $41 million loan to refinance a 23-property medical office portfolio across 15 states. Matt Dzbanek and Matt Swerdlow of Ariel Property Advisors’ capital services division in New York City secured the financing on behalf of the undisclosed borrower. The non-recourse, fixed-rate loan included a 10-year term with four years of interest-only payments. A national lender provided the financing.

November 26, 2018

Acquisitions Healthcare New York Northeast

NAI Long Island Brokers $1.6M Sale of Medical Office Building in Sayville, New York

by David Cohen November 26, 2018

SAYVILLE, N.Y. — NAI Long Island has brokered the $1.6 million sale of a 7,300-square-foot medical office building in Sayville. Located at 160 Middle Road, the property is occupied by the Long Island Family Medical Group. Gary Pezza of NAI Long Island represented the seller, John Zimmerly, in the transaction. The buyer was 1449 Holdings LLC.

November 26, 2018

Development Healthcare Northeast Pennsylvania

IMC Construction Breaks Ground on Medical Center Near Philadelphia

by David Cohen November 21, 2018

RADNOR, PA. — IMC Construction has broken ground on Penn Medicine Radnor, a four-story, 250,000-square-foot medical center in Radnor. Located at 145 King of Prussia Road, the center will house a heart and vascular center, cancer care, women’s health, orthopedic and rehabilitation medicine, neurosciences and other medical subspecialties. An outpatient surgery suite will include six surgical and four endoscopy rooms, along with radiology and laboratory services. Brandywine Realty Trust will purchase and serve as the designated developer and manager of the site, and develop an adjacent office space and a hotel on property. The outpatient center is expected to be complete in Spring 2020.

November 21, 2018

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