Healthcare

CBC Real Estate Group to Develop $40M Rock Regional Hospital in Kansas

by Haisten Willis July 14, 2016

DERBY, KAN. — CBC Real Estate Group will develop a $40 million community hospital in Derby, a suburb of Wichita. Rock Regional Hospital, a 65,000-square-foot, 30-bed general acute care hospital with a surgical emphasis, will be situated north of Patriot Avenue and west of Rock Road in the proposed Sales Tax and Revenue (STAR) Bond District at the north end of Derby. The project will also include an adjacent 40,000-square-foot medical office building. Rock Regional Hospital will feature 12 inpatient medical beds, 12 surgical beds and six intensive care unit beds, as well as three operating rooms, two procedure rooms, three cath lab rooms and three emergency department rooms. Southlake, Texas-based Candor Healthcare will operate the hospital upon completion. Kansas City, Mo.-based CBC anticipates construction will begin this year, with Rock Regional Hospital fully operational by 2018.

July 14, 2016

Healthcare Texas

McCarthy to Build New Facility for Texas Children’s Hospital in Houston

by Haisten Willis July 12, 2016

HOUSTON — McCarthy Building Cos. has begun construction on a facility for Texas Children’s Hospital that will house the hospital’s pediatric and residents’ primary care group clinic. The project includes the demolition of existing interior space and construction of a 20,000-square-foot facility. When completed in November, the building will include a waiting area, exam rooms, nurses’ stations, administrative offices, staff lounge, storage, radiology and ultrasound space and a work room. Preston Hodges and Mike Kacal lead McCarthy’s specialized solutions group, which focuses on healthcare, laboratory and higher education interior renovation projects.

July 12, 2016

Bio Tech Place, Wake Forest University, Winston-Salem, N.C.

Healthcare Life Sciences Top Stories

Ventas to Acquire Entire Wexford Life Science, Medical Portfolio for $1.5B

by Jeff Shaw July 6, 2016

CHICAGO — Giant healthcare REIT Ventas (NYSE: VTR) has agreed to acquire all the life sciences and medical real estate assets of Wexford Science & Technology for $1.5 billion. Wexford will continue to operate the portfolio, which includes 25 Class A properties totaling 4.5 million square feet. Blackstone Real Estate Partners VIII LP is the current owner of the properties, which are largely leased to universities, academic medical centers and research companies. Tenants include Yale University, the University of Pennsylvania Health System, Washington University in St. Louis, Wake Forest University and Alexion Pharmaceuticals. Of the 25 properties, 23 are currently in operation and are 97 percent leased. The remaining two properties are currently under development and are nearly 60 percent pre-leased to Duke University and Wake Forest University. Chicago-based Ventas also plans to acquire nine development sites contiguous to the existing assets for $50 million. The purchase will significantly diversify Ventas’ portfolio, as the company’s previous focus was almost exclusively on seniors housing and healthcare properties. Ventas has the second-largest portfolio of seniors housing in the United States with 785 properties totaling 69,708 units, according to the American Seniors Housing Association’s most recent numbers. The transaction includes a long-term management …

July 6, 2016

Healthcare Michigan Midwest Office

Griffin-American Healthcare REIT Agrees to Acquire 30,000 SF Medical Office Property Near Detroit

by Christina Cannon June 29, 2016

ROCHESTER HILLS, MICH. — American Healthcare Investors and Griffin Capital Corp., the co-sponsors of Griffin-American Healthcare REIT IV Inc., have agreed to buy a medical office building in Rochester Hills for an undisclosed price. The 30,000-square-foot facility is approximately 93 percent leased to seven tenants, the largest of which is William Beaumont Hospital. An undisclosed seller disposed of the property located approximately 30 miles north of Detroit.

June 29, 2016

California Healthcare Western

Centers Business Management Arranges 3,000 SF Lease in Arleta

by Nellie Day June 29, 2016

ARLETA, CALIF. — Centers Business Management (CBM) has arranged the lease of 3,000 square feet of space at 9700 Woodman Ave. in Arleta. Kahen & Kahen MD Inc. leased the space from Regency for an urgent care center. CBM represented the landlord, while Alex Shabani of CBM represented the tenant in the transaction.

June 29, 2016

Healthcare Industrial Office Texas

CBRE Brokers Sale of 11.8-Acre Site in Fort Worth for Reinvestment

by Haisten Willis June 24, 2016

FORT WORTH, TEXAS — CBRE has brokered the sale of an 11.8-acre site with multiple buildings at 7100 Oakmont Blvd. in Fort Worth. The asset includes a 113,000-square-foot former hospital building and a 12,000-square-foot former power plant. Fort Worth-based TCRG Properties LLC purchased the site for an undisclosed price with a plan to redevelop the assets for lease. The property, formerly occupied by Baylor All Saints Medical Center, is located in southwest Fort Worth. Inwood Bank provided acquisition financing. Bob Scully and Nanci Johnson-Plump with CBRE’s Fort Worth office represented the seller, Rainier Realty Investments. Ryan Wood with TCRG represented the buyer internally.

June 24, 2016

first-choice-emergency-room-rowlett-texas

Healthcare Loans Office Texas

Metropolitan Capital Advisors Arranges $5.1M Construction Loan for Emergency Room in Metro Dallas

by Haisten Willis June 20, 2016

ROWLETT, TEXAS — Metropolitan Capital Advisors has arranged a $5.1 million construction loan for First Choice Emergency Room, located in Rowlett. The 0.8-acre tract is located off the northwest corner of Rowlett Road and Highway 66. The three-year loan, funded by Happy State Bank, includes one year of interest-only payments, a 4.75 percent fixed interest rate and a 25-year amortization schedule. The nearest hospital is the Lake Pointe Medical Center 3.5 miles east of downtown Rowlett across Lake Ray Hubbard.

June 20, 2016

Healthcare New York Northeast Office

Delshah Capital Acquires Five-Building Medical Office Portfolio in Manhattan for $111.5M

by Amy Works June 17, 2016

NEW YORK CITY — Delshah Capital has acquired a portfolio of five buildings, totaling 205,000 square feet, from Mount Sinai St. Luke’s for $111.5 million, or $543 per square foot. Eastern Consolidated arranged a $60 million first mortgage bridge loan to finance the acquisition of the portfolio. Bank of the Ozarks provided the $60 million loan to the borrower, which also received a $17.5 million mezzanine loan from Square Mile Capital. The properties are located at 401 West and 411 W. 113th St. and 400 West and 408 W. 114th Street in Manhattan’s Morningside Heights. The buildings formerly housed numerous hospital services that are in the process of being relocated to alternate space within the remainder of the Mount Sinai St. Luke’s campus. Paul Massey, Hall Oster, Teddy Galligan and Andrew Berry of Cushman & Wakefield represented the seller in the transaction. Adam Hakim, Sam Zabala and James Murad of Eastern Consolidated secured the bridge loan for the borrower.

June 17, 2016

Healthcare New Jersey Northeast Office

NAI Hanson Arranges Sale of 45,912 SF Medical Office Building in New Jersey

by Amy Works June 14, 2016

HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of a medical office building located at 155 Polifly Road in Hackensack. Polifly Group acquired the 45,912-square-foot property from Polifly Plaza Associates for an undisclosed sum. The three-story building was 50 percent vacant at the time of sale. Hackensack University Medical Center currently occupies the first floor, leaving 20,269 square feet available for new tenants. The third floor is currently vacant, offering 15,000 square feet of contiguous office space. Randy Horning and Darren Lizzack of NAI Hanson represented the seller, while Anthony Cassano, also of NAI Hanson, represented the buyer in the deal.

June 14, 2016

Healthcare Loans South Carolina Southeast

NorthMarq Arranges $2.6M Refinancing of Medical Office Building in Metro Charlotte

by John Nelson June 14, 2016

ROCK HILL, S.C. — NorthMarq Capital has arranged the $2.6 million of Kedrion Biopharma, a 13,000-square-foot medical office property located at 1843 Cherry Road in Rock Hill, a southern suburb of Charlotte in South Carolina. Susan Branscome of NorthMarq Capital’s Cincinnati-based office arranged the 20-year loan with a 20-year amortization schedule through Symetra Financial on behalf of the borrower, The Stough Group.

June 14, 2016

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