HOUSTON — United General Hospital has signed a 44,569-square-foot medical office lease within the Texas Medical Center in Houston. The healthcare provider will operate out of 7501 Fannin, a 195,000-square-foot, Class A building that was completed in 2004. Zach Leger, Jacob Aldridge and Rani Jones of NAI Partners represented the landlord, Cambridge Properties, in the lease negotiations. David Greenberg of Greenberg & Co. represented United General Hospital.
PORTLAND, MAINE — Remic Properties has acquired the 34,000-square-foot Maine Eye Center at 15 Lowell St. in Portland for $8.2 million. Both Remic Properties and the seller, Maine Eye SPE LLC, were represented by Stan Johnson Company in the transaction. Maine Eye, an ophthalmology practice, is the sole tenant in the building. The acquisition was part of a 1031 exchange that Remic completed following the sale of a property in Peabody, Mass. Tom St. Jean and Mary Lambert of Brookline Bank served as the qualified intermediary in the transaction.
SAN ANTONIO — Seavest Healthcare Properties LLC has opened The Children’s Hospital of San Antonio Health Pavilion – Stone Oak, a 60,000-square-foot healthcare property in northern San Antonio. The three-story ambulatory care facility is part of the CHRISTUS Santa Rosa Health System. Services offered by the new facility include an emergency room, physicians’ offices and a diagnostic imaging services center, as well as a pediatric outpatient testing and treatment center. Trammell Crow Co. served as co-developer of the property.
MISSION HILLS, CALIF. — Commercial Asset Group has arranged the acquisition of a medical office building located at 11155-11166 Sepulveda Blvd. in Mission Hills. Porter Ranch, Calif.-based San Fernando Professional Building sold the property to a Burbank, Calif.-based family investment group for $13.7 million. Facey Medical Group, a division of Providence Hospitals, occupies the 33,438-square-foot building. David Aschkenasy of Commercial Asset Group represented the buyer, while Mark Oliver of Realty Executives Valencia represented the seller in the deal.
DULLES, VA. — Washington Property Co. (WPC) has started construction on Stone Ridge Medical Center, a 67,000-square-foot medical office building in Dulles, roughly 30 miles west of Washington, D.C. The three-story building is currently preleased to three tenants: Virginia Pediatric Group, which will occupy 4,500 square feet; Jackson Clinics, which will occupy 3,000 square feet; and Royal Care Pharmacy, which will occupy 1,500 square feet. Total project costs for the development, including land acquisition, are $21 million. Stone Ridge Medical Center will be located across the street from the recently opened HCA StoneSprings Medical Center hospital. The building is expected to open by the end of the year.
DALLAS — Dallas County has approved the $83 million sale of the former Parkland Memorial medical campus in northwest Dallas to Dreien Opportunity Partners, according to the March 27 agenda from the county commissioners. Dreien is a development group headed by Dallas magnate Sam Ware that is also working to redevelop the Collin Creek Mall in Plano. The company is financing the acquisition in part by leasing 560 parking spaces currently used by Parkland employees. Plans for the redevelopment of the 38-acre campus, which was owned by Parkland, include condos, apartments and a hotel.
COUNCIL BLUFFS, IOWA — NexCore Group, a national healthcare real estate developer, has begun construction of the new CHI Health Valley View Clinic in Council Bluffs near Omaha, Neb. The 37,800-square-foot clinic will replace an existing 9,000-square-foot facility, therefore quadrupling the size. The CHI Health Valley View Clinic will provide a variety of healthcare services under one roof, including primary care, behavioral health, women’s services, radiology, ultrasound, pharmacy and physical therapy providers. The property will feature 54 exam rooms and is slated to open in May 2019. The clinic is expected to provide a $10.4 million annual economic benefit to the area, according to NexCore. Darland Construction Co. is the general contractor and Leo A Daly is the architect.
OKLAHOMA CITY — OU Medicine Inc. has acquired interests in OU Medical System (OUMS), a series of hospitals and medical facilities in and around Oklahoma City. The buyer received nearly $1.1 billion in financing for the transaction. The seller was HCA Healthcare, which sold its full interest in the system. OU Medicine is an affiliate of University Hospitals Authority and Trust (UHAT). HCA Healthcare is a joint operating company operated by HCA and UHAT. OU Medicine, a newly formed 501(c)(3) corporation, completed the acquisition with a $900 million bridge financing and $175 million subordinated debt issuance. Proceeds from the combined nearly $1.1 billion financing were also used to provide liquidity on OU Medicine’s balance sheet, fund a portion of a bed tower expansion and redeem $42.4 million of outstanding UHAT bonds. The bridge financing included $673.4 million of tax-exempt direct purchase senior bonds and a $232.5 million taxable senior loan. UHAT retained Cain Brothers as its exclusive M&A advisor to negotiate the termination of the existing joint operating agreement with HCA. Cain Brothers also acted as financial advisor to assist in sourcing and structuring the bridge financing. OU Medicine was formed to own and operate OUMS, a health system of three …
MORENO VALLEY, CALIF. — Trammell Crow Co.’s Southern California-Newport Beach office has started construction of a 200,000-square-foot medical office building in Moreno Valley. Riverside University Health System (RUHS) will occupy the three-story facility, which will feature space for specialty physician groups, an outpatient surgery center and expanded pharmacy services. he new medical office building will occupy 17.4 acres on the southern portion of RUHS’s 80-acre medical center campus and feature a single-story, 7,000-square-foot lobby and café. The new outpatient building and the existing medical center will be linked to the new property by a second-floor pedestrian bridge. Completion is slated for 2019.
CRYSTAL CITY, MO. — McCarthy Building Cos. Inc. has completed a three-story, 120,000-square-foot patient building on the campus of Mercy Hospital Jefferson in Crystal City, 35 miles south of St. Louis. The new development features 90 private patient rooms. McCarthy also renovated the hospital’s main entrance as part of the $73 million project. New corridors help connect the emergency department, imaging, surgical services and admitting areas. Further interior renovations included the construction of a new emergency department waiting area, additional cardiology facilities and MRI suites. The new childbirth center on the third floor of the existing tower includes new labor and delivery suites, remodeled postpartum rooms and two dedicated surgical units. Bates Architects designed the new patient tower, and Heideman Associates served as MEP engineer.
