DALLAS — Stream Realty Partners, a full-service real estate investment, development and services company, has hired John Huff as managing director of its new healthcare real estate division. In this capacity, Huff will be responsible for leading and conceptualizing Stream’s healthcare portfolio initially in the Dallas/Fort Worth market for products including medical office, specialized outpatient facilities, hospitals, teaching and research buildings, seniors housing and build-to-suit opportunities. Stream’s healthcare real estate platform will focus on services including leasing, facility development, investment sales, portfolio analysis and management. Huff previously worked at Duke Realty (formerly Bremner Healthcare), where he leased, developed and acquired more than 2 million square feet of medical properties valued at more than $750 million.
GREENWOOD, IND. — Four Springs Capital Trust has acquired a single tenant medical building in Greenwood, approximately 10 miles south of Indianapolis, for $8 million. BioLife Plasma Services operates the 16,694-square-foot building as a plasma collection facility. The seller in the transaction was undisclosed.
BEE CAVE, TEXAS — Hat Trick Development plans to build a medical office project known as the Medical Towers at Bee Cave. Alive and Well wellness center will be the lead tenant at the property, occupying 8,000 square feet. The 80 percent-leased development is located on a 2.1-acre site off the northwest corner of RM 620 and State Highway 71 in Bee Cave. Tenants in the 23,000-square-foot project will include Lone Star Podiatry and River City Docs. Adam Metcalf is the owner of Alive and Well. Construction should begin in September and will be completed by the end of 2017. H+SP is the project’s architect, LJA Engineering Inc. is the engineering firm and Structura Inc. is the general contractor.
CLEVELAND — The Cooper Commercial Investment Group has brokered the sale of a 13,095-square-foot, multi-tenant medical office building near Cleveland. An Ohio-based private investor sold the building to an undisclosed Ohio-based buyer for $2.4 million. Bob Havasi and Dan Cooper of the Cooper Commercial Investment Group represented the seller in the transaction.
COLUMBIA, S.C. — NAI Avant has brokered the $22.5 million sale of a portfolio of nine Doctors Care facilities throughout South Carolina and Tennessee. Doctors Care, a wholly owned subsidiary of Blue Cross Blue Shield of South Carolina, operates more than 50 urgent and family care facilities with nearly 200 providers focused on providing urgent care, family care, occupational medicine and employee wellness services. Dail Longaker of NAI Avant represented the sellers, Medical Investment Holdings LLC and Port Royal Medical Investments LLC, in the transaction.
IRVING, TEXAS — KDC and Rubicon Representation will develop a 155,000-square-foot, Class A medical office project in two phases at Gateway Drive and State Highway 161 in Irving’s Las Colinas district. Phase I will break ground this fall and will consist of 95,000 square feet anchored by Healthcare Associates. Phase II will break ground shortly thereafter and will consist of 60,000 square feet. The second phase will house an ambulatory surgery center and medical office. The anchor tenant space is currently available. The development is located near DFW International Airport and is within walking distance of the DART Beltline Station. Rubicon Representation assembled the real estate transaction.
NATRONA HEIGHTS, PA. — Progress Capital Advisors has secured a $16.2 million 24-month bridge loan for Harrison Town Square, a retail center located in Natrona Heights formerly known as Heights Plaza. The borrower, Steve Kogut, plans to use the loan to retire current CMBS debt and rebrand the center into a retail/medical destination. Current tenants at the center include a physical rehabilitation center, Planet Fitness, urgent care facilities for University of Pittsburgh Medical Center (UPMC) and Allegheny Health Network, as well as multi-specialty physician practices. Kathy Anderson of Progress Capital arranged the loan for the borrower.
PLANO — Marcus & Millichap has arranged the sale of Ramada Limited Plano, a 100-room hotel located in Plano. Chris Gomes and Joseph Jaques of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a limited liability company. Gomes and Miller procured the buyer, a private investor. Ramada Limited Plano is located at 621 Central Parkway E., near Park Boulevard. Built in 1987, the limited service, interior corridor hotel is situated on 1.8 acres. The property features an outdoor swimming pool, business center, breakfast area and meeting space.
MARQUETTE, MICH. — A joint venture between Skanska and Closner Construction will build a new hospital for Duke LifePoint Healthcare for $206 million. The facility will serve as a replacement hospital for UP Health System – Marquette, also known as Marquette General Hospital. The 164,000-square-foot, 243-bed replacement facility includes approximately 46,000 square feet of diagnostic and therapeutic services and 56,000 square feet of patient care services. Additionally, the project will include an adjoining medical office building and a parking structure. The project is slated for completion in October 2018. The city of Marquette is located in Michigan’s Upper Peninsula. With a population of 21,335, it is the UP’s largest community, according to the city’s website.
BETTENDORF, IOWA — Montecito Medical has acquired a three-story, 59,615-square-foot medical office building in Bettendorf for an undisclosed price. The Class A Terrace Park Professional Center was built in 2004 and is connected to the 139-bed Trinity Medical Center. Onsite specialties include orthopedics, OBGYN, wound care, MRI, neurology, family medicine, pain management and pediatrics. Lockard Development Inc. was the seller in the transaction.