CHICAGO — J.C. Anderson Inc. has completed a 9,200-square-foot renovation project for the Child and Adolescent Health Associates Ltd. practice at 1030 N. Clark St. in Chicago. The project included the renovation of private doctor offices, exam rooms, waiting areas, a nursing station and laboratory. The project also included the addition of a sick patient waiting room. IA provided the architectural services for the renovation project. CRESA was the project manager for ownership. Child and Adolescent Health Associates was established in 1980 as a private practice in general pediatrics. Affiliated with Children’s Memorial Medical Center and Northwestern Memorial Medical Center, the practice’s physicians provide comprehensive healthcare for children up to 18 years old.
BIRMINGHAM, ALA. — NorthMarq Capital has arranged approximately $1.6 million in first mortgage refinancing for the Omega Health Building, a 10,000-square-foot medical office building located at 250 State Farm Parkway in Birmingham. Jeff Robertson of NorthMarq Capital arranged the two-year loan with a three-year extension option through a regional bank.
FOUNTAIN VALLEY, CALIF. — MemorialCare Health System has agreed to buy Fountain Valley City Center, a 300,000-square-foot health system property, for an undisclosed sum. The site is located near Brookhurst and the 405 Freeway in Fountain Valley.The center is already home to MemorialCare Health System and its shared services, which fully occupy one of the three modular buildings on the property.MemorialCare is also in the process of acquiring an adjacent property for additional parking. MemorialCare was represented by Tim Helgeson of Newmark Grubb Knight Frank in this transaction.
FOUNTAIN VALLEY, CALIF. — MemorialCare Health System has agreed to buy Fountain Valley City Center, a 300,000-square-foot health system property, for an undisclosed sum. The site is located near Brookhurst and the 405 Freeway in Fountain Valley. The center is already home to MemorialCare Health System and its shared services, which fully occupy one of the three modular buildings on the property.MemorialCare is also in the process of acquiring an adjacent property for additional parking. MemorialCare was represented by Tim Helgeson of Newmark Grubb Knight Frank in this transaction.
ELKHORN, WIS. — Dougherty Funding LLC has closed an $8.9 million loan for the new construction of Aurora Medical Office Building, a 30,000-square-foot medical center in Elkhorn, a southwest suburb of Milwaukee. Aurora Health Care has signed a 15-year lease, with two five-year extensions, for the property. The financing was arranged for ElkhornMedical Office Building LLC. Dougherty Funding serves as the lead lender in all of its transactions and funds each financing by selling loan participations to an extensive network of banks and institutional lenders throughout the U.S.
WEST ORANGE, N.J. — The Hampshire Cos. and its joint venture partner, Paragon Realty Group, have sold a 13,946-square-foot medical office condominium located within Mount Pleasant Medical in West Orange. The medical office condo is within the recently redeveloped Class-A medical facility at 375 Mount Pleasant Ave. Current tenants include New Jersey Cardiology Associates, Urology Group of New Jersey, Muscio Pain Management, a new surgical center, and a dialysis center. The 113,000-square-foot, three-story facility is situated on 11 acres and offers access to area highways including Route 10 and I-280. Colliers International New Jersey is actively marketing the building with Frank Gunsberg as the exclusive broker.
CLIFTON PARK, N.Y. — Columbia Development Co. (CDC) will develop a 38,000-square-foot urgent care center and medical office building in Clifton Park, located 10 miles east of Schenectady. Ellis Hospital urgent care, imaging and laboratory departments will occupy the first floor, while Ellis-owned and private physician practices will occupy the second floor. The medical building will include a shared waiting room for imaging and laboratory department. The property will also feature amenities such as a vending area, children’s play area and public restrooms. CDC hired BBL Medical Facilities to plan, design and build the facility.
AUSTIN — Construction of the new Forest Park Medical Center, a $90 million, 145,000-square-foot facility, is underway in Austin. Neal Richards Group is the project developer, Adolfson & Peterson Construction is the general contractor and Page Southerland Page is the architect. Some 66 Austin-area physicians will own the facility, which is slated for completion in the fourth quarter of 2014. Similar centers, all known by the same name, are currently operating in Dallas, Frisco and Southlake and under development in San Antonio and Fort Worth.
BOCA RATON, FLA. — CB Richard Ellis (CBRE) has brokered the sale of an 11,000-square-foot, multi-story medical office building located at 1450 S. Dixie Highway in Boca Raton. Dr. Alan Bauman purchased the property for $1.6 million and plans to relocate his practice, Bauman Medical Group, to the building. CBRE’s Dominic Montazemi, Scott O’Donnell and Miguel Alcivar represented the seller, 1450 Dixie LLC.
BELLEVUE, WASH. — Mission Healthcare, a 70-unit skilled nursing and healthcare facility in Bellevue, has received $10.1 million in financing. The facility is located at 2424 156th Ave. NE. It specializes in comprehensive post-operative care, long-term and respite care. It also offers outpatient and home health services. The borrower plans to use the funds to refinance existing debt on the property. The 35-year, fixed-rate financing was secured by Heidi Brunet and Rob Affleck of Berkadia Commercial Mortgage through the U.S. Department of Housing and Urban Development’s (HUD) 232/223(a)(7) program. Berkadia worked with Careage to secure the financing.