Healthcare

PARTNERSHIP BUYS MEDICAL OFFICE BUILDING IN METRO CINCINNATI

by admin July 19, 2013

EVENDALE, OHIO — A partnership between MedProperties Holdings LLC and Equity Inc. has acquired the Evendale Healthcare Center medical office building in suburban Cincinnati. The four-story, 65,670-square-foot Evendale Healthcare Center is located on 4.6 acres at 10475 Reading Road in Evendale. The multi-tenant medical office building is situated between interstates 71 and 75, near the intersection of Reading Road and Glendale Milford Road. Equity Inc., a Columbus, Ohio-based commercial real estate company with offices in Cincinnati, is providing property management for the Evendale Healthcare Center, and Republic Commercial Real Estate will provide leasing. MedProperties Holdings is a Dallas-based healthcare real estate private equity investment firm.

July 19, 2013

CNL HEALTHCARE ACQUIRES TENNESSEE MOB PORTFOLIO FOR $57.3 MILLION

by admin July 18, 2013

JEFFERSON CITY, KNOXVILLE AND POWELL, TENN. — CNL Healthcare Properties has purchased four medical office buildings in the Knoxville area for approximately $57.3 million. The portfolio totals more than 200,000 square feet of Class A space. It includes Jefferson Medical Commons in Jefferson City, Physicians Regional Medical Center – Central Wing Annex in Knoxville, and Physicians Plaza A and B in Powell. CNL acquired the portfolio from N.T. Brinkman, whose affiliate will continue to manage the properties.

July 18, 2013

Healthcare Northeast

HFF ARRANGES $10M LOAN FOR MEDICAL OFFICE BUILDING

by admin July 17, 2013

EAST SETAUKET, N.Y. — HFF has arranged $10 million in financing for 45 Research Way, a 59,394-square-foot, Class A medical office property in East Setauket. Michael Gigliotti led the HFF team representing the borrower, TRITEC Real Estate Co. Sentinel Asset Management Inc., acting on behalf of Life Insurance Co. of the Southwest, provided the long-term, fixed rate loan. Yvonne Sun represented TRITEC in the transaction.

July 17, 2013

Healthcare Midwest

COOPER COMMERCIAL ARRANGES $1.3M SALE OF CLEVELAND MOB

by admin July 16, 2013

CLEVELAND, OHIO — The Cooper Commercial Investment Group has arranged the $1.3 million sale of the Cleveland Clinic Medical Building, a 5,800-square-foot medical office building in Cleveland. The sale of the property represents an 8.6 percent capitalization rate. Dan Cooper, president and broker of Cooper Commercial Investment Group, represented the owner, a New York-based private investment owner, and the buyer, also a New York-based private investor, in the transaction. The medical office property has a triple-net lease in place guaranteed by the Cleveland Clinic, which subleases the space to Neighborhood Health Care.

July 16, 2013

Healthcare Midwest

PARTNERSHIP BUYS 39,899 SF MEDICAL BUILDING IN BETTENDORF

by admin July 15, 2013

BETTENDORF, IOWA —EnTrust Realty Advisors LLC has arranged the sale of the Lincoln Healthcare Building, a 39,899-square-foot medical office building in Bettendorf. The purchase price was undisclosed. Genesis Health System anchors the building, which is located at 865 Lincoln Road, about seven miles northwest of Davenport. EnTrust Realty Advisors and NAI Ruhl & Ruhl Commercial Co. represented the seller, a private partnership, in the transaction. Mel Foster Commercial represented the buyer, a local private investor.

July 15, 2013

Healthcare Midwest

IRGENS DEVELOPING 30,000 SF CHICAGO AREA MOB

by admin July 15, 2013

MOKENA, ILL. — Irgens has begun developing Mokena Medical Commons, located on 191st St. in Mokena, about 35 miles southwest of Chicago. Women’s Healthcare of Illinois, a group that provides comprehensive woman-focused healthcare services, has committed to lease 15,000 square feet at the single-story, 30,000-square-foot, Class A facility. The 3.7-acre site will allow for a flexible floor plan to accommodate tenants of all sizes, an abundance of surface parking and customized suites.

July 15, 2013

Healthcare Northeast

SUFFOLK BREAKS GROUND ON $280M RESEARCH FACILITY IN BOSTON

by admin July 11, 2013

BOSTON — Suffolk Construction has celebrated the groundbreaking of the Brigham Building for the Future project, a $280 million research lab and clinical facility in Boston. Located on the Brigham and Women’s Hospital campus, the 620,000-square-foot, 11-story building will include a 460-car parking garage, lab and outpatient clinical space, imaging facilities and a conference center. A pedestrian bridge will be constructed to connect the Brigham Building for the Future to the existing Carl J. and Ruth Shapiro Cardiovascular Center, which was also built by Suffolk. Designed to achieve LEED Gold certification, the building will feature a roof garden to reduce storm water runoff; a system that cleans and reuses storm water for mechanical equipment; and a co-generation plant to supply the building with electricity, steam and hot water. Suffolk is partnering with architecture firm NBBJ. Construction is slated for completion in fall 2016.

July 11, 2013

Healthcare Western

MOLINA HEALTHCARE EXECUTES $158M SALE, LEASEBACK FOR TWO OFFICE BUILDINGS

by admin July 10, 2013

LONG BEACH, CALIF. — Molina Healthcare has executed a $158-million sale/leaseback that encompasses the firm’s Long Beach corporate office complex and an office building in Columbus, Ohio.The Long Beach property features two conjoined 14-story office towers that total 500,000 square feet. Molina purchased the property in 2011. It houses the company's corporate headquarters, as well as Molina Healthcare of California, its California health plan subsidiary. The Columbus property contains a 160,000-square-foot office building that was acquired in December 2012. It serves as the principal health plan operations for its Molina Healthcare of Ohio subsidiary.Molina was represented by McKinney Advisory Group. Angelo Gordon & Co., AGNL Clinic, L.P. worked alongside McKinney.Western Reserve Partners LLC served as Molina’s co-advisor and placement agent.

July 10, 2013

Healthcare Northeast

CAPITAL ADVISORS SECURES $4.7M LOAN FOR MEDICAL OFFICE BUILDING

by admin July 10, 2013

SETAUKET, N.Y. — Capital Advisors has arranged $4.7 million in refinancing for 33 Research Way, a 37,297-square-foot medical office building located in Setauket, about 15 miles east of Queens. Stony Brook University Hospital fully occupies the property. Cooper Willis of Capital Advisors’ Charlotte, N.C. office secured the 25-year, nonrecourse loan, which includes a 25-year amortization schedule, for Algil Holding Co. LLC. StanCorp Mortgage Investors LLC provided the financing.

July 10, 2013

Healthcare Western

MOLINA HEALTHCARE EXECUTES $158M SALE, LEASEBACK FOR TWO OFFICE BUILDINGS

by admin July 10, 2013

LONG BEACH, CALIF. — Molina Healthcare has executed a $158-million sale/leaseback that encompasses the firm’s Long Beach corporate office complex and an office building in Columbus, Ohio. The Long Beach property features two conjoined 14-story office towers that total 500,000 square feet. Molina purchased the property in 2011. It houses the company's corporate headquarters, as well as Molina Healthcare of California, its California health plan subsidiary. The Columbus property contains a 160,000-square-foot office building that was acquired in December 2012. It serves as the principal health plan operations for its Molina Healthcare of Ohio subsidiary. Molina was represented by McKinney Advisory Group. Angelo Gordon & Co., AGNL Clinic, L.P. worked alongside McKinney.Western Reserve Partners LLC served as Molina’s co-advisor and placement agent.

July 10, 2013

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