PEORIA, ILL. — New York-based American Realty Capital Healthcare Trust has paid $32 million for two acquisitions, including Methodist North Medical Office Building in Peoria. The company secured a ground leasehold interest in the three-story outpatient center in Peoria for $24.6 million. It also paid $7.4 million for a ground leasehold interest in a medical office building at the Odessa Regional Medical Center in Odessa, Texas. The two properties total 112,522 square feet. The Peoria property is fully leased to Methodist Services Inc., which holds two leases that expire in January and February 2025. The ground lease expires in July 2058 and includes two 25-year renewal options.
DALLAS — Arlington-based Ascension Group Architects has finished the $98 million expansion of Forest Park Medical Center, located at 11990 N. Central Expressway in Dallas. The expansion included three additions: a 125,000-square-foot surgical facility, a 138,000-square-foot facility connecting to the hospital through the lobby and a 780-vehicle parking garage with a covered walkway. Adolfson & Peterson Construction served as the general contractor.
ODESSA — American Realty Capital Healthcare Trust has purchased a ground leasehold interest in the 230-bed Odessa Regional Medical Center, an on-campus medical office building fully leased to Odessa Regional Hospital located at 520 E. Sixth St. in Odessa, for $7.4 million. The tenant lease expires in May 2023 and the ground lease expires in July 2057.
DALLAS — The Cirrus Group and Dallas-based Realty Capital Partners has sold the 60-bed Reliant Rehabilitation Hospital, located at 7930 Northaven Rd. in Dallas, to American Realty Capital. The hospital was fully leased to Reliant Healthcare Partners and 20 physician practices at the time of the sale.
ELK GROVE, ILL. — Deerfield, Ill.-based Meridian Design Build was selected to complete the renovation of a 14,626-square-foot facility for Barrington Orthopedic Specialists, located at 120 E. Higgins Rd. in Elk Grove Village. Construction is currently underway on the project, which includes the full renovation of an existing, single-story office building to accommodate new exam rooms, cast rooms, imaging areas, rehabilitation facilities and a physical therapy gym. A building addition also will be constructed to include waiting areas and a covered patient entrance/dropoff area. Project manager Bob Kolcz and Fred Jennings, general superintendent, are coordinating the project for Meridian. The space will be designed by Arete-Knight.
DALLAS — Mark One Capital, a subsidiary of Marcus & Millichap, has secured acquisition financing for the 20,000-square-foot Baylor Surgery Center, located in Dallas. Farhan Kabani of Mark One's Dallas office arranged the 5-year loan with a 25-year amortization schedule and a fixed 4.66 percent interest rate.
COLUMBUS, GA. — Skanska has been selected for the $115 million expansion and renovation of St. Francis Hospital, located at 2122 Manchester Expressway in Columbus. Included in the expansion is the addition of a 189,131-square-foot clinical services building and a 169,000-square-foot medical office building. Additionally, the company will renovate the main hospital. Completion is slated for August of 2013.
MOUNT JULIET, TENN. — Marcus & Millichap has arranged the $4.3 million sale of the 15,088-square-foot Providence West Medical Plaza, a medical office building located at 5003 Crossing Cir. in Mount Juliet. The building is fully leased. Joseph Massa and Anthony Lunceford of the Marcus & Millichap's Nashville, Tenn., office represented the seller, a developer, in the transaction and procured the buyer, a private investor.
ALTAMONTE SPRINGS, FLA. — The 150,000-square-foot Adventist Health Systems corporate headquarters building, located at 900 Hope Wy. in Altamonte Springs, has opened. Little was the architect for the project, Brasfield & Gorrie was the contractor, Crescent Resources was the development manager, Parsons was the project consultant and Tri-City Electrical Contractors was the electrical contractor.
NEW ORLEANS — Skanska USA and MAPP Construction have started construction on the $522 million first phase of the $1.2 billion, 2.18 million-square-foot University Medical Center, located in downtown New Orleans, on behalf of the State of Louisiana. The development is affiliated with Louisiana State University and LSU Health. The first phase includes a 550,661-square-foot, 424-bed hospital tower and a 746,982-square-foot adjoining diagnostic and treatment center. Full completion is slated for February 2015.