Tuesday, June 24, 2025
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HealthcareMichiganMidwest

MedCraft Completes $13.5M Outpatient Facility for Ascension Health in Howell, Michigan

by Kristin Harlow

HOWELL, MICH. — MedCraft Healthcare Real Estate LLC has completed development of the Ascension Medical Center in Howell, approximately 30 miles north of Ann Arbor. The $13.5 million, 60,000-square-foot outpatient facility is located at the Latson Road exit on I-96. The new center will offer primary care services of family practice, internal medicine, obstetrics/gynecology and pediatrics. Specialties include cardiology, pulmonology and audiology. Other services include diagnostic imaging (with 3-D mammography), lab, physical therapy and occupational health. The center is also home to an urgent care that will be open seven days a week for 10 hours per day. Diekema Hamann provided architectural and engineering services, while the CSM Group provided construction services.

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HealthcareIowaMidwest

Opus Begins Construction of Science Building at Northwestern College in Orange City, Iowa

by Kristin Harlow

ORANGE CITY, IOWA — The Opus Group has begun construction of a new 61,750-square-foot Health and Natural Sciences building at Northwestern College in Orange City. The building will be the new home of the school’s biology, chemistry and nursing departments. The project will include lab spaces, featuring simulation suites that replicate hospital and clinical settings for nursing students. Additional classrooms will include moveable tables and exam rooms to allow for hands-on training. The building will also feature energy-efficient mechanical and electrical systems, including a specialized cooling system that makes ice overnight when utility rates are lower and uses the ice to cool the facility throughout the day. The building is slated for completion in summer 2018. Opus Design Build LLC is the construction manager for the project, HGA is the design architect and Cannon Moss Brygger Architects is the architect of record.

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HealthcareOfficeTexas

Moody Rambin Negotiates 15,856 SF Medical Office Lease Renewal in Houston

by Taylor Williams

HOUSTON — Moody Rambin has negotiated a 15,856-square-foot lease renewal at Woodlake Office Park, a medical/office complex located at 2500 Tanglewilde St. in Houston. Terri Torregrossa of Moody Rambin represented the landlord, Woodlake Properties Ltd., in the lease negotiations. Tim Relyea of Cushman & Wakefield represented the tenant, Texas ENT Specialists.

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HealthcareTop Stories

Sabra Health Care, Care Capital Properties Agree to Merge, Create $7.4B Healthcare REIT

by Taylor Williams

IRVINE, CALIF. AND CHICAGO — Sabra Health Care REIT (NASDAQ: SBRA) and Care Capital Properties Inc. (NYSE: CCP) are joining forces to create a healthcare REIT with a pro forma total market capitalization of roughly $7.4 billion and an equity market capitalization of roughly $4.3 billion. The all-stock transaction is expected to close during the third quarter of 2017. The new REIT will be headquartered in Irvine and include a healthcare portfolio comprised of 564 investments across 43 states and Canada. Sabra’s current executive team will manage the company, which will continue to trade under the SBRA ticker symbol. During a conference call on Monday morning, Sabra CEO and Chairman Rick Matros stated that the merger enables Sabra to achieve its goal of upgrading its credit rating. “With this structure to the stock deal, the transaction is credit-enhancing for both parties,” Matros said during the call. “Our leverage will be modest, we’ll have greater scale and diversification and greater opportunities for shareholder-friendly growth than either company had on a standalone basis.” Matros also noted during the call that the merger allows Sabra to meet one of its diversification goals: adding more skilled nursing facilities. However, that focus won’t change the …

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HealthcareMidwestMissouri

McCarthy Completes $40M Outpatient Building at Hospital in Chesterfield, Missouri

by Kristin Harlow

CHESTERFIELD, MO. — McCarthy Building Cos. Inc. has completed construction of a new 106,000-square-foot outpatient services building on the west campus of St. Luke’s Hospital in Chesterfield. The $40 million St. Luke’s Outpatient Center Building B adjoins the hospital’s Mr. and Mrs. Theodore P. Desloge Jr. Outpatient Center. The five-story structure provides additional space for new physician offices as well as the expansion of St. Luke’s physical therapy and cardiac rehabilitation services. Other St. Luke’s services that have relocated to the building include EEG/EMG; the nutrition wellness and diabetes center; the anticoagulation clinic; and wound care and hyperbaric medicine. BSA LifeStructures Inc. designed the building.

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HealthcareNortheastPennsylvaniaTop Stories

PennFIRST Designs $1.5B Hospital Pavilion for University of Pennsylvania

by Kristin Harlow

PHILADELPHIA — PennFIRST is completing the planning and design process for the University of Pennsylvania’s new $1.5 billion hospital. The “Pavilion” will be situated on Penn Medicine’s West Philadelphia campus where it will create a new public square and a focal point for all surrounding buildings to anchor the health system. An official groundbreaking took place on Wednesday, May 3. The Pavilion will house inpatient care for the Abramson Cancer Center, heart and vascular medicine and surgery, neurology and neurosurgery, and a new emergency department. The project is slated for completion in 2021. Located on the former site of Penn Tower, the Pavilion will be home to about 500 new private patient rooms and 47 operating/interventional rooms in a 1.5 million-square-foot, 16-story facility. The Pavilion will be linked to the Hospital of the University of Pennsylvania and the adjacent Perelman Center for Advanced Medicine as well as the train station via a network of public bridges and walkways. Long-term flexibility was incorporated into the design so that patient rooms can be adapted and changed over time with minimal impact to the building fabric. The patient rooms will be equipped with in-room technologies to strengthen communication between patients, families and care …

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HealthcareTexas

HCA Holdings to Acquire Two Hospitals Totaling 417 Beds in Metro Houston, San Antonio

by Taylor Williams

TOMBALL AND JOURDANTON, TEXAS — HCA Holdings, a Tennessee-based, publicly traded operator of more then 300 medical properties, will acquire two hospitals totaling 417 beds in Texas from subsidiaries of Community Health Systems. The two properties are Tomball Regional Medical Center, a 350-bed facility in the Houston metro of Tomball, and South Texas Regional Medical Center, a 67-bed facility in the San Antonio metro of Jourdanton. The transaction is expected to close this summer.

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HealthcareOfficeTexas

Marcus & Millichap Brokers Sale of 173,790 SF Office/Medical Complex in Dallas

by Taylor Williams

DALLAS — Marcus & Millichap has brokered the sale of Forest Green Office/Medical Complex, a four-building, 173,790-square-foot asset located along Greenville Avenue near Interstate 635 and the LBJ Freeway in Dallas. Ron Hebert and Michael Lawrence of Marcus & Millichap represented the seller, a California-based investment group. The property, which was built in 1985, was 82 percent leased at the time of sale.

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CaliforniaHealthcareLoansWestern

Sims Mortgage Funding Closes $30.1M Loan to Expand Parkview Community Hospital in Riverside

by Jeff Shaw

RIVERSIDE, CALIF. — Sims Mortgage Funding has closed a $30.1 million loan for Parkview Community Hospital in Riverside. The hospital is located at 3865 Jackson St. The loan will finance the expansion of Parkview’s emergency department. The loan was insured under the HUD Section 242/241 program.

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HealthcareTop Stories

Duke Realty Sells Medical Office Portfolio to Healthcare Trust of America for $2.8B

by Taylor Williams

INDIANAPOLIS — Duke Realty Corp. (NYSE: DRE) has agreed to sell its entire portfolio of medical office properties to Healthcare Trust of America (NYSE: HTA) for roughly $2.8 billion. The transaction is expected to close in stages by year’s end. The portfolio totals approximately 6.6 million square feet of gross leasable space across 78 properties. Of those, 71 are in-service buildings, five are under construction and two are holdings of unconsolidated joint ventures in which Duke has interests. The sale also includes two parcels of land totaling 16.5 acres. Collectively, the assets were 94 percent leased at the time of sale. According to Duke CEO Jim Connor, the transaction signifies the company’s effort to focus exclusively on industrial properties. “Monetizing our medical office business is accretive to our net asset value per share and creates a more simplified business model with improved transparency,” says Connor. “This represents a long-term benefit to our stakeholders while we position the company as a leading, pure-play industrial REIT.” Proceeds of the sale will be used to pay off $1.2 billion in existing debt, fund new industrial projects and to pay dividends to shareholders. The terms of sale call for Duke to provide $50 million …

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