NEW YORK CITY — New York City-based Eastern Union Commercial has arranged a $34 million loan for the refinancing of a four-building, 580-bed nursing portfolio in New York and New Jersey. Three of the properties are fully operational, while the fourth, a 120-bed skilled nursing facility, is currently under construction. The project is expected to be completed at the end of 2012. Abraham Bergman of Eastern Union secured the 5-year loan through M&T Bank. The borrower is a privately held nursing home owner and management company.
MCKINNEY — Family First Healthcare, the office of Demetria Smith, M.D., has opened a 2,196-square-foot office, located at 6717 W. Eldorado Pkwy., Ste. 120 at the Eldorado Office Park in McKinney. Rebecca Harrell and Jim Turano of Henry S. Miller Brokerage's represented the landlord, Eldorado Office Park LLC, in the lease transaction. Mike Cowherd of TH Physicians Group represented the tenant. Eldorado Office Park is currently 89 percent occupied.
HUNTINGTON BEACH, CALIF. – A 7,098-square-foot medical office building in Huntington Beach has sold to Harmelback, LLC (Beach Family Doctors Medical Group) for $2.48 million. The building is located at 9131 Adams Ave. Harmelback was represented by Allen Basso and Eric Darnell of Lee & Associates’ Irvine office. Dave Romero of the firm’s Newport Beach office and Bryan Lysne of Lee & Associates Investment Services Group represented the seller, Michael M. Khatibi, in this transaction.
BOSTON — ARC/Architectural Resources Cambridge was selected by Dana-Farber Cancer Institute to design a new cancer research facility at the Longwood Center in Boston. The facility will be housed in approximately 154,000 square feet of space on five floors. Work on the project is expected to begin in 2012, with move-ins to begin at the end of 2014. Bryan Thorp of ARC will serve as the project manager.
JACKSONVILLE, FLA. — Marcus & Millichap has arranged the $13.26 million sale of the 34,000-square-foot Emerson Medical Plaza Building 2, a medical office building located at 4549 Emerson St. in Jacksonville. The building is fully leased to Shands Jacksonville Medical Center, an affiliate of the University of Florida. John Smelter of Marcus & Millichap's San Diego office, along with Kirk Felici of the firm's Miami office, represented Emerson MOB II, the seller, in the transaction. Emerson MOB II is a partnership between ABR Chesapeake III, a value-added real estate investment fund sponsored by Baltimore-based Alex Brown Realty, and Health America Realty Group.
BRENHAM — Stan Johnson Co. has arranged the sale of a 9,423-square-foot medical office building, which is fully leased for 10 years to St. Joseph's Regional Health Center, located at 110 Hwy. 290 in Brenham. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller, Navasota-based GroundForce Building Systems. The buyer is an individual investor from College Station.
AUSTIN — Kansas City, Mo.-based Carter Validus Critical REIT has acquired the 27,000-square-foot Stonegate Medical Center, located at 2501 W. William Cannon Dr. in Austin, for $9.1 million. The property features three buildings which house a surgery center, a diagnostic/radiology center and a pain management center.
SAN ANTONIO — Oxford Commercial, an Austin-based subsidiary of Cushman & Wakefield, has arranged the sale of the 223,000-square-foot Legacy Oaks Office Park, a seven-building medical office project located at Fredericksburg Road and Mockingbird Lane in San Antonio. The project is currently 76 percent leased. Rhonda Toming and Jeff Coddington of Oxford Commercial represented the seller, JPMorgan Chase Bank, in the transaction. The buyer was MJR Investments.
SPRINGFIELD, MASS. — Suffolk Construction has completed the first phase of its Baystate Medical Center expansion and facility-replacement project in Springfield. The $296 million new, clinical facility houses a heart and vascular center as well as critical-care and inpatient rooms. Designed by Steffian Bradley Architects, the building totals 641,000 square feet. The construction is part of a 15-year master plan for the hospital — the largest medical facility in Western Massachusetts. Suffolk has started work on the second phase, a new emergency department, which will triple the size of Baystate's existing emergency room.
ARLINGTON HEIGHTS, ILL. — Hamilton Partners has purchased 1615 W. Central, a 30,000-square-foot medical building from a private investor in Arlington Heights. Terms of the deal were undisclosed. Dan O' Neill of Cawley Chicago represented both parties in the transaction.