Healthcare

CINCINNATI AND DAYTON, OHIO —LTC Properties has purchased two skilled nursing facilities in Ohio for $54 million. The first property, located in Cincinnati, was built in 2009. The second property, located in Dayton, Ohio, was built in 2010. The two facilities have a total of 288 licensed beds. Simultaneous with the acquisition, the REIT entered into a master lease with affiliates of Carespring Health Care Management. The lease has an initial 15-year term with two 5-year renewal options. LTC funded the purchase from the company's unsecured revolving line of credit and cash on hand.

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SAN ANTONIO — San Antonio Head & Neck Surgical Associates has purchased a 2.5-acre site at Brooks City-Base in San Antonio and plans to develop a 20,000-square-foot medical office on the property. Russell Noll and Scott Wolff of Transwestern represented the seller, Brooks City-Base, in the transaction. Jeffrey Miller of Travis Commercial Real Estate represented the buyer.

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FRISCO — Dallas-based BOKA Powell has completed work on the 141,500-square-foot Forest Park Medical Center at Frisco Square, a four-story surgical hospital located in Frisco. The hospital features five-star amenities such as VIP patient suites, an upmarket restaurant, upscale ambiance and a grand lobby. The facility consists of 56,000 square feet of medical office space, 34,000 square feet of retail space and a 600-car parking structure. The medical office space features 12 operating rooms, 40 patient rooms and 14 VIP patient suites. Neal Richards Group developed the property.

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HARKER HEIGHTS — Ascension Group Architects has finished work on the $100 million Seton Medical Center Harker Heights, located at 850 W. Central Expressway in Harker Heights. The facility is a joint venture between Austin-based Seton Family of Hospitals and Plano-based LHP Hospital Group. The 192,400-square-foot Seton Medical Center is the first new hospital in Bell County in 35 years. The hospital features a full-service emergency department, intensive care units, women's services department, cardiology, interventional cardiology, orthopedics, neurosurgery and imaging and diagnostic services. Sandy, Utah-based Layton Construction was the general contractor for the project.

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OAK PARK, ILL. — Healthcare Trust of America (HTA) has agreed to buy the Rush Medical Office Building in Oak Park for $54 million. The acquisition is part of a purchase option associated with a mortgage investment made by the REIT in December of 2009. The mortgage was secured by Rush MOB and included an option that would allow HTA the ability to buy the 135,000-square-foot property this summer. Rush University Medical Center is fully leasing the medical office building through 2019.

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ST. LOUIS — McGrath & Associates has started construction on a $1.7 million outpatient bone marrow transplant center at Saint Louis University Hospital. The 9,900-square-foot facility will be the first comprehensive outpatient center of its kind in the region, and is scheduled to open this fall. It will be located within the St. Louis University Cancer Center. Fox Architects is the project architect.

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AUSTIN — Hardin Construction Co. has been selected to build a 36,000-square-foot medical office building that will be known as Riverplace Medical Plaza, located in Austin's Four Points neighborhood. Construction is scheduled to begin in August and conclude in summer 2013. Schneider Halls Design will serve as the architect of record and Bury+Parners will serve as the civil engineer. Onair Development owns the property.

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HOUSTON — McCarthy Building Cos. has been selected to renovate The University of Texas MD Anderson Children's Cancer Hospital, located on the ninth floor of the Alkek Tower at MD Anderson in Houston. Construction is under way on the infrastructure upgrade. McCarthy Building completed construction last year on the MD Anderson Cancer Center Alkek Hospital's 12-story vertical expansion.

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SAN DIEGO – The Lewis Medical building, a 22,461-square-foot medical office building in San Diego, has sold to Coast Income Properties for $9.7 million. The building is located at 330 Lewis Street. It is fully occupied by UC San Diego Health System. The property was purchased as a triple-net leased investment. Coast Income Properties was represented by Paul Braun and Chris Ross of Colliers International. The seller, KAMF San Diego LLC, was represented by Mel Coffman of California Commercial Properties.

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