Healthcare

United Realty Trust Acquires 90,000 SF Medical Headquarters in New Jersey

by Amy Works January 9, 2015

CHERRY HILL, N.J. — United Realty Trust Inc. has acquired a medical office property located at 7 Carnegie Plaza in Cherry Hill. FRS Carnegie Plaza LLC sold the 90,000-square-foot property sold for $9.3 million. Built in 1988 and last renovated in 2009, the property is fully occupied by Fox Rehabilitation Services, a provider of physical, occupational and speech therapy services. Situated on 17.4 acres, the property provides infrastructure for more than 700 employees and includes 559 onsite outdoor parking spaces. United Realty Trust financed the acquisition in part through a $5.5 million first mortgage loan and a $1.8 million mezzanine loan.

January 9, 2015

Healthcare Illinois Midwest Office

HSA PrimeCare Completes Development of Silver Cross Business Center

by Danielle Everson January 6, 2015

CHICAGO — HSA PrimeCare has completed the development of a 30,000-square-foot business center at Silver Cross Hospital in New Lenox. The two-story administrative building is on the east side of campus located at 1900 Silver Cross Blvd. HSA Primecare has now developed three medical buildings on the Silver Cross campus totaling more than 100,000 square feet. Itasca, Ill.-based Premier Design + Build Group served as the general contractor for the project. Partners in Design Architects provided architectural design services.

January 6, 2015

Healthcare Texas

Ascension Group Completes Behavioral Health Hospital in Metro Dallas

by Haisten Willis December 26, 2014

PLANO, TEXAS — Ascension Group Architects recently completed Oceans Behavioral Health Hospital Plano in Plano. The hospital opened to patients in September. The 48-bed, 37,000-square-foot hospital is located at 4301 Mapleshade Lane and provides care to adults 55 and older with behavioral disturbances and other brain-related degenerative conditions. The hospital is a joint venture between Dallas-based real estate investment and development company SRP Medical and Louisiana-based Oceans Healthcare.

December 26, 2014

Healthcare Midwest Nebraska Office

NorthMarq Arranges $7.3M Refinancing of Oakview Medical Office Building in Omaha

by Danielle Everson December 19, 2014

OMAHA — NorthMarq Capital has arranged the $7.3 million refinancing of Oakview Medical Building, a 48,360-square-foot office property in Omaha. The building is located at 2725 S. 144th St. Gary Rifkin and Jason Kinnison of NorthMarq Capital’s Omaha office structured the 10-year loan, which includes a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

December 19, 2014

Healthcare Loans New York Northeast

Meridian Capital Closes $49M in CMBS Financing for Brooklyn’s Calko Medical Center

by Amy Works December 16, 2014

NEW YORK CITY — Meridian Capital Group has arranged a $49 million CMBS loan for the refinance of a medical office property located at 6002 Bay Parkway in Brooklyn. The 10-year CMBS loan features a fixed rate and interest-only payments for the first three years. Abe Hirsch and Zev Karpel of Meridian’s New York City headquarters negotiated the transaction. The newly constructed Calko Medical Center features 125,000 square feet of office and retail space. Additionally, the property is an Article 28 ambulatory surgery center, which provides patients with same-day surgical care, including diagnostic and preventive procedures.

December 16, 2014

California Healthcare Western

Griffin Capital Corporation, NorthStar Realty Finance Complete Merger

by Nellie Day December 5, 2014

LOS ANGELES – Griffin-American Healthcare REIT II has completed its $4-billion merger with NorthStar Realty Finance. Griffin-American Healthcare REIT II is co-sponsored by American Healthcare Investors and Griffin Capital Corporation. Per the merger agreement, NorthStar Realty has acquired all of the outstanding shares of Griffin-American in this stock and cash transaction. Griffin-American stockholders will receive an allocation of two-thirds cash and one-third common stock of NorthStar Realty from the merger’s proceeds. The Griffin-American Healthcare REIT II portfolio contains 289 buildings throughout 32 states and the United Kingdom. The properties are a mix of medical office buildings, hospitals, and senior housing and skilled nursing facilities. The portfolio was about 95 percent leased at the end of September, according to Griffin Capital. The tenants carried a weighted average remaining lease term of 9.2 years. New York-based NorthStar Realty Finance Corp. is a diversified commercial real estate company organized as a REIT. It is managed by an affiliate of NorthStar Asset Management Group Inc. Los Angeles-based Griffin Capital Corporation is a privately owned real estate company. Griffin Capital and its affiliates have acquired or constructed about 32 million square feet since 1995. American Healthcare Investors is an investment management firm that specializes in …

December 5, 2014

Healthcare North Carolina Southeast

JLL Brokers Sale of Pharmaceutical Manufacturing Plant in Metro Charlotte

by John Nelson December 3, 2014

MONROE, N.C. — JLL has brokered the sale of Monroe Corporate Center, a 102,000-square-foot property located at 4275 Corporate Center Drive in Monroe, about 24 miles southeast of Charlotte. Glenmark Pharmaceuticals Ltd. purchased the facility for an undisclosed amount. The company plans to invest more than $15 million in the next five years to develop three separate pharmaceutical manufacturing units at the site. Glenmark expects to begin manufacturing oral solids at the location by mid-2015. John Buckley, Shawn Straka, John Cashion and Matt Treble of JLL represented Glenmark in the transaction. The seller, the city of Monroe, was represented in-house.

December 3, 2014

Georgia Healthcare Southeast

SG Property Services Acquires Medical Office Portfolio in Metro Atlanta for $14.5M

by John Nelson December 2, 2014

ATLANTA — SG Property Services has acquired an eight-building medical office portfolio known as the Oak Hill Medical Portfolio for $14.5 million. The properties are located in the Atlanta suburbs of Peachtree City, Blairsville and Newnan. Spanning 70,000 square feet, the eight properties are located at 10 Eastbrook Bend in Peachtree City; 1294 Highway 515 E. in Blairsville; 39 Oak Hill Court Buildings A-D in Newnan; and 60 and 110 Oak Hill Blvd. in Newnan. Lee Asher of CBRE represented the undisclosed sellers in the transaction.

December 2, 2014

Healthcare New Jersey Northeast

Stan Johnson Co. Brokers Sale of 37,660 SF Medical Building for $19M

by Amy Works November 17, 2014

VINELAND, N.J. — Stan Johnson Co. has brokered the sale of a 37,660-square-foot medical property to Lexington Realty Trust (NYSE: LXP) for $19 million. Located at 1237 W. Sherman Ave. in Vineland, the property is leased to HealthSouth Rehabilitation Hospital of South Jersey LLC and is guaranteed by HealthSouth Corp., the largest owner and operator of inpatient rehabilitation hospitals in the United States. Camille Renshaw and David Bailey of Stan Johnson Co.’s New York office represented the seller, a New Jersey medical developer, in the transaction. The property includes a 40-year lease with approximately 29 years remaining. The sale occurred at a 5.8 percent cap rate based on 2014 net operating income.

November 17, 2014

Healthcare Texas

Balfour Beatty Celebrates Opening of $95.5M Hospital in Fort Worth

by John Nelson November 13, 2014

FORT WORTH, TEXAS — Balfour Beatty Construction recently celebrated the opening of Forest Park Medical Center, a new hospital in Fort Worth. Balfour Beatty worked in conjunction with Neal Richard Group and architect Perkins + Will on the project. The hospital opened to patients Nov. 3 and spans 150,000 square feet with 12 operating suites, a full-service imaging center and laboratory, 54 inpatient rooms, six intensive care units, ancillary services and vegetated roof systems. The $95.5 million project includes development of the hospital, medical office building and a 550-space parking garage.

November 13, 2014

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