Healthcare

Halpern Enterprises Opens 30,000 SF Medical Office Building in Metro Atlanta

by Camren Skelton December 12, 2017

SMYRNA, GA. — Halpern Enterprises has opened Belmont Physicians Center, a 30,000-square-foot medical office building located within Belmont, a 48-acre mixed-use community in the Atlanta metro of Smyrna. Emory Healthcare anchors the center, which is located roughly 18 miles northwest of downtown Atlanta. Other tenants at Belmont Medical Center include Gentle Care Dentistry, Cobb Pediatric Associates and Smyrna Pediatric Dentistry. The two-story building was designed by Lyman Davidson Dooley Architects and constructed by Benning Construction. In addition to the new healthcare building, the Belmont mixed-use community features restaurants, retail, Smyrna Elementary School, a residential subdivision and a 274-unit apartment community. A second phase is planned that will include single-family homes, as well as an additional 12,000 square feet of retail space.

December 12, 2017

Healthcare Texas

Ridgeline Capital Acquires 42,000 SF Healthcare Asset in San Antonio

by Taylor Williams December 11, 2017

SAN ANTONIO — Ridgeline Capital Partners, a Dallas-based investment firm specializing in the healthcare sector, has acquired Connally Oaks Medical Center, a 42,000-square-foot, Class A medical facility located at 2130 N.E. Loop 410 in San Antonio. Built in 2008, the property is situated directly south of the 371-bed Northeast Baptist Hospital. Connally Oaks is currently 95 percent leased to eight medical practices, including oncology, neurology and dentistry, on triple net leases. Ridgeline Capital has now made seven healthcare acquisitions since its inception in early 2014.

December 11, 2017

Healthcare Michigan Midwest

Gerdom Realty Brokers Sale of 12,000 SF Medical Facility in Belleville, Michigan

by Kristin Harlow December 6, 2017

BELLEVILLE, MICH. — Gerdom Realty & Investment has brokered the sale of Meridian Medical Plaza in Belleville, 29 miles southwest of Detroit. The sales price was not disclosed. The 12,000-square-foot medical facility is 100 percent leased to multiple tenants. The buyer, a local private investor, also acquired additional land for a second phase of development. Larry Siedell and Tjader Gerdom represented both parties in the transaction.

December 6, 2017

Healthcare New York Northeast Office

Bent Tree Realty Completes Sale of 23,383 SF Medical Office Building in Johnson City, New York

by Amy Works December 5, 2017

JOHNSON CITY, N.Y. — Bent Tree Realty has completed the disposition of Our Lady of Lourdes Memorial Hospital Orthopedics Building in Johnson City. A privately held healthcare REIT purchased the 23,383-square-foot facility for an undisclosed price. The building is 96 percent occupied by Our Lady of Lourdes Memorial Hospital, a member of Ascension Health. Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Company represented the seller in the transaction.

December 5, 2017

Healthcare Midwest Minnesota

IRET to Sell 1.3 MSF Medical Office Portfolio for $417.5M

by Kristin Harlow December 4, 2017

MINNEAPOLIS — IRET (NYSE: IRET) has entered into an agreement to sell its medical office portfolio for $417.5 million. The buyer was not disclosed. The properties, totaling approximately 1.3 million square feet, include the company’s entire healthcare portfolio, which consists of 28 healthcare properties and one other commercial property occupied by a healthcare tenant. The transaction, expected to close by the end of January, is one of several key deals nearing the completion of IRET’s strategic transformation, according to the company. IRET also sold 22 other non-core properties for an aggregate sale price of $98.8 million since July. This includes the company’s final two seniors housing properties, marking IRET’s full exit from that segment, as well as three industrial assets and one healthcare asset located in the Twin Cities.

December 4, 2017

Georgia Healthcare Southeast

Atlanta Hawks, Emory Healthcare Open Training, Sports Medicine Center in Metro Atlanta

by Camren Skelton November 30, 2017

BROOKHAVEN, GA. — The Atlanta Hawks Basketball Club and Emory Healthcare have opened a 90,000-square-foot training facility and sports medicine center in Brookhaven, roughly 11 miles north of downtown Atlanta, on Tuesday. The privately funded Emory Sports Medicine Complex integrates four facilities: Emory Healthcare Courts, the official practice and training facility for the Atlanta Hawks; Emory Sports Medicine Center and Emory Physical Therapy, which house Emory’s entire sports medicine division; and Peak Performance Project, an applied sports science services provider for elite-level athletes from around the world. The Hawks’ new facility is the first in the NBA to be co-located with an entire sports medicine center, allowing for access to high-tech equipment such as a 3 Tesla MRI scanner, 3D motion capture analysis and blood/sweat testing and analysis on-site.

November 30, 2017

Healthcare Texas

CBRE Brokers Sale of 80,000 SF Medical Building in San Antonio

by Taylor Williams November 28, 2017

SAN ANTONIO — CBRE has arranged the sale of an 80,000-square-foot medical building located at 5109 Medical Drive in San Antonio. Built in 2008, the property is located on the CHRISTUS Santa Rosa medical center campus on the city’s northwestern side. The facility includes 38 semi-private rooms for 100 patient beds, a clinical lab and a pharmacy. Scott Herbold of CBRE represented the seller, Stream Realty Partners, in the transaction. PPH Real Estate LLC, a partnership of local physicians and investors, purchased the asset for an undisclosed price.

November 28, 2017

Florida Healthcare Loans North Carolina Southeast

HFF Arranges $26.6M Recapitalization, Financing of Medical Office Portfolio in Florida, North Carolina

by Camren Skelton November 28, 2017

DALLAS — HFF has arranged the $26.6 million recapitalization and financing of a six-property medical office portfolio located throughout Florida and North Carolina. Anthony Frogameni, Ben Appel and Matt DiCesare of HFF marketed the portfolio on behalf of the borrower, Catalyst HRE, and procured the investor, Charter Realty Group. In addition, Michael George and Charley Dickenson of HFF arranged fixed-rate senior financing through Capital One on behalf of the new venture between Catalyst HRE and Charter Realty Group. The portfolio, which totals 68,000 square feet, comprises four radiation oncology treatment centers operated by Robert Boissoneault Oncology Institute in the Florida markets of Lecanro, Ocala and The Villages; the Florida Diagnostic Imaging Medical Office Building in Panama City, Fla.; and the Eastern Regional Surgical Center in Wilson, N.C.

November 28, 2017

Healthcare Texas

Medistar to Develop 555,000 SF, Class A Medical Office Tower in Houston

by Taylor Williams November 22, 2017

HOUSTON — Medistar Corp. will develop a 550,000-square-foot, Class A medical office tower at 6700 Main St. in Houston, adjacent to the Texas Medical Center. The site previously housed a Best Western hotel, which will soon be demolished. The property will feature an oversized parking garage and an undetermined amount of ground-floor retail space, in addition to space for both physicians and healthcare providers. A timetable for completion has not yet been established.

November 22, 2017

Healthcare Indiana Midwest

Everhealth Properties Acquires 60,000 SF Medical Office Building in Southeast Indiana

by Kristin Harlow November 17, 2017

NEW ALBANY, IND. — Everhealth Properties LP, a subsidiary of Everest Healthcare Properties LLC, has acquired New Albany Medical Center, a 60,000-square-foot medical office building in New Albany, roughly six miles west of Louisville. The Scottsdale, Ariz.-based company acquired the asset through its tax-deferred IRS Section 721 program. Other terms of the transaction were not disclosed. At the time of sale, New Albany Medical Center was 95 percent occupied, with a weighted average lease term of almost five-and-a-half years. The seller was not disclosed. The 721 program is designed to offer investors access to high-quality medical office real estate that has the potential for long-term capital appreciation.

November 17, 2017

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