PLYMOUTH, MINN. — Harrison Street Real Estate Capital has acquired the leasehold interest in the Abbott Northwestern – WestHealth medical campus through the Harrison Street Core Property Fund, the firm’s core open-ended vehicle. The three-building, 200,000-square-foot, Class A medical campus is located in Plymouth, a western suburb of Minneapolis. Allina Health, the largest healthcare provider in the Twin Cities, leases a majority of the building. The campus is located at 2855 Campus Drive. Cushman & Wakefield/NorthMarq marketed the campus for sale.
Healthcare
LITTLE ROCK, ARK. — Berkadia Commercial Mortgage has arranged $59.8 million for the refinancing of a portfolio of 12 skilled nursing facilities throughout Arkansas. Jay Healy worked with the borrower, Omega Healthcare Investors Inc., to secure the loan through the U.S. Department of Housing and Urban Development's HUD 232/223(a)(7) program. Omega acquired the assets in December 2011 and assumed HUD debt through a transfer of physical assets. The portfolio, totaling 1,400 beds, includes two facilities outside of Little Rock: Premier Health and Rehabilitation in North Little Rock and Canyon Springs Health & Rehabilitation in Hot Springs.
ST. LOUIS — McGrath & Associates has completed the renovation of an existing radiology room at Saint Louis University Hospital in St. Louis into an advanced radiology suite featuring a Siemens Artis Zeego angiography system. As part of the renovation, McGrath added structural steel support beams under the existing first-floor slab to provide support for the Zeego robotic arm equipment. The project also required sheet lead radiation shielding. The room finishes included seamless vinyl flooring with a FlashCove base and sheet wall protection. BSA Lifestructures Inc. was the architect. The project price was undisclosed.
BASTROP, TEXAS — CBRE has arranged the sale of St. David's Emergency Center-Bastrop, a 28,500-square-foot, freestanding emergency department in Bastrop. Austin-based Long View Equity Partners purchased the property, which is fully leased to St. David's HealthCare System. Scott Herbold, Chris Bodnar and Lee Asher of CBRE's U.S. Healthcare Capital Markets Group represented the seller in the transaction.
MISHAWAKA, IND. — Birmingham, Ala.-based Sanders Trust has purchased a 46,000-square-foot rehabilitation hospital in Mishawaka, an eastern suburb of South Bend, for $17 million. The 40-bed Saint Joseph Rehabilitation Institute provides services to patients of the Saint Joseph Regional Medical Center, South Bend Orthopedics and other providers, Trinity Health, one of the largest health care systems in the country, runs the medical center.
NEW YORK CITY — Central Medical Services of Westrock (CMSW) has signed a 10-year lease for 4,150 square feet of medical office space on the ninth floor of Forest HIlls Tower. The 350,000-square-foot building is located at 118-35 Queens Blvd. in Forest Hills, a neighborhood in the New York City borough of Queens. CMSW, a provider of healthcare services to people who are injured at work, will move into their new space in May. Nicholas Forelli of Muss Development represented the landlord in the transaction.
HOLDEN, MASS. — Margulies Perruzzi Architects (MPA) has completed a new three-story, 36,000-square-foot medical office building in Holden, located about eight miles north of Worcester. MPA designed the new multi-tenant Holden Health Building for Oriol Health Care, a local family-owned and operated healthcare organization, and its primary tenant Reliant Medical Group, a multi-specialty medical group. The architectural group provided interior architecture and healthcare design services for Reliant’s 17,700-square-foot space. The new facility includes 25 exam rooms for family practice and OB/GYN, as well as laboratory, radiology and mammography services, a retail pharmacy, and an optometry center.
ORLANDO — Lake Nona has announced plans to build the Lake Nona Gateway Building, a 100,000-square-foot medical office building on the northwest corner of Narcoossee Road and Tavistock Lakes Boulevard in Orlando. Florida Hospital and University of Central Florida's Pegasus Health will become anchor tenants in the new building. Florida Hospital expects to establish a combination of services, including a CentraCare urgent care center, imaging and diagnostics and an outpatient surgery center. UCF's College of Medicine will expand Pegasus Health, the college's primary and multi-specialty practice. The project is expected to break ground in the fall with a projected opening in mid-2014. Lake Nona is a 7,000-acre master planned community within the city limits of Orlando.
HOLLAND, MICH. — The 117,750-square-foot Lakeshore Medical Office Complex in Holland has sold to a private family office based in New York City and Chicago for $8 million. The four-building complex is 85 percent occupied and was owned by a CMBS Trust. Kevin Baker and Daniel Kukes of Landmark Commercial Real Estate Services Inc. represented the buyer in the transaction.
JACKSONVILLE — Johnson Development has started construction on a 60,000-square-foot medical office building in Jacksonville. The property will be located next to St. Vincent's Medical Center Clay County hospital, a new 64-bed hospital scheduled to open in 2013. The medical office building will house facilities for cardiology, wound care, orthopedics, rehabilitation, neurology and include a sleep center. Johnson Development will own the property with a group of area physicians. The medical office building is slated for completion in October.