NEW YORK — Berkadia Commercial Mortgage has arranged $43.9 million for two skilled nursing facilities in New York. Jay Healy of Berkadia’s Seniors Housing and Healthcare group worked with the owner of both properties to secure the fixed-rate financing. Healy secured a 12-year term extension and closed a 29-year, 6-month loan through HUD’s 232/223(a)(7) program for a 280-bed facility in Nassau County, which offers around-the-clock nursing care, therapeutic recreational programs, on-site dentistry and a beauty parlor for its residents. In addition, Healy facilitated a note modification through HUD for a five-story building in Dutchess County, which consists of 160 beds. The two transactions resulted in combined debt service savings of over $1.7 million for the borrower and were structured in such a way that a master lease was not required by HUD.
Healthcare
NEW YORK CITY — Stalco Construction and Perkins Eastman have completed the $24 million expansion and renovation of Lincoln Medical Center Emergency Department in the Bronx. The emergency care facility and Level 1 trauma center is the fifth-busiest emergency department in the United States, according to the companies. The emergency department increased to 57,095 square feet, and the number of treatment bays doubled from 53 to 106. The project includes a dedicated children’s emergency unit, an adult waiting room, new psychiatric and mental health emergency unit, trauma center, asthma patient unit and a women’s health section. The project team included general contractor Stalco Construction; architect Perkins Eastman; construction manager Hunter Roberts; structural engineer GACE Consulting Engineers; mechanical, electrical, and plumbing (MEP) engineer Kallen & Lemelson, Consulting Engineers; geotechnical engineer Pillori Associates; and landscape designer RGR Landscape.
BETHLEHEM, PA. — MHC Associates has sold a recently renovated three-story medical office building to Lehigh Valley Health Network for $6.2 million. The 44,489-square-foot building sits on the Lehigh Valley Hospital Muhlenberg Campus and has easy access to Route 22. NAI Summit assisted both parties to make the process seamless. Built in 1989 and renovated in 2011, the medical office building is located at 2597 Schoenersville Road in Bethlehem. NAI Summit has provided management services for the property during the past 27 years.
GAINESVILLE, FLA. — Skanska has signed a contract to expand the UF Shands Cardiovascular/Neuroscience Hospital in Gainesville. The contract is valued at $225 million. The approximately 516,668-square-foot addition will constructed adjacent to the UF Health/Shands Cancer Hospital, which Skanska constructed in 2009. Construction on the expansion will begin either in the fall or winter of this year and wrap up in the fall of 2017.
WASHINGTON, D.C. — Community of Hope has opened its new 50,000-square-foot, $26 million health center at 4 Atlantic St. S.W. in Washington, D.C.’s Ward 8 neighborhood. The property, known as the Conway Health and Resource Center, will feature 20 medical exam rooms, 11 dental chairs, six rooms for behavioral health and a large education room. The center received the majority of its funding from the local and federal governments. Architecture and design firm Perkins + Will designed the property.
LOS ANGELES — Sabra Health Care REIT has received five loans totaling $46.1 million. The loans will allow the REIT to refinance five of its facilities, which are located in California, Colorado, New Mexico and Montana. The loans’ rates were in the low 4-percent range. The five 232/223(f) HUD loans were closed by Housing & Healthcare Finance.
CHARLOTTE, N.C. — Childress Klein-Cambridge Healthcare Solutions LLC has broken ground on the $150 million, 429,000-square-foot Charlotte Veterans Affairs Health Care Center in Charlotte. The six-story outpatient medical campus will be situated on a 35-acre site at the corner of West Tyvola Road and Cascade Point Boulevard. The facility is expected to provide care for approximately 140,000 veterans, and also employ roughly 600 medical professionals. Construction on the project is slated to wrap up in February 2016. The Department of Veterans Affairs held a groundbreaking ceremony recently that featured local Congressmen, business leaders and government officers.
LONE TREE, COLO. — Kaiser Permanente has opened a new multi-specialty center in Lone Tree. The 275,000-square-foot facility is located at 10240 Park Meadows Drive. The 20-acre integrated campussits adjacent to Denver’s commuter rail system off Interstate 25. The center broke ground in 2012 and was developed in phases. It began accepting patients last month. Some of the specialties and services the new facility offers include infusion services, laboratory, oncology, obstetrics, gynecology, ambulatory and general surgery, allergy care, gastroenterology, orthopedics, clinical palliative care, physical/occupational therapy, optometry and hearing services. It also has a café and a pharmacy. The new facility was built by Adolfson & Peterson Construction and designed by Davis Partnership Architects and Bennett Wagner & Grody Architects PC. Healthcare consulting firm Hammes Company also worked on this project. Kaiser maintains additional facilities in Denver and Lafayette.
PASADENA, CALIF. — Pasadena Clinical Physicians Neuroscience Centerhas received a $17.2-million refinance. The 49,652-square-foot medical office building is located at 630 South Raymond Ave. The loan carries a 10-year term and a 30-year amortization schedule. Financing was arranged by Ory Schwartzof NorthMarq Capital’s Los Angeles officethrough the firm’s relationship with an investment management firm.
NEW BRAUNFELS, TEXAS — CBRE has brokered the sale of an 18,855-square-foot healthcare facility in New Braunfels. The property, known as Christus Santa Rosa Physicians’ Ambulatory Surgical Center, is located at 1738 E. Common St., equidistant from Christus Santa Rosa Hospital and the new Resolute Health Hospital, slated to open later this year. A partnership between Christus Santa Rosa and multiple physicians fully occupies the building. Scott Herbold of CBRE represented the unnamed sellers in the transaction. Austin-based Long View Equity Partners purchased the asset.