MARION, ILL. — Holland Construction Services recently completed the new $5.7 million Behavioral Medicine building for the U.S. Dept. of Veterans Affairs in Marion. The 17,400-square-foot building includes 14 bedrooms, a day room for group gatherings and a kitchen. Paul Gansauer of Holland Construction served as the project manager, and N.K. Bhandari, Consulting Engineers P.C. provided architectural services. The building is now open.
FREDERICKSBURG, VA. —The 18,714-square-foot Spotswood Medical Center, located at 4103-4107 Lafayette Blvd. in Fredericksburg, has been sold for $3 million. Virgil Nelson of Cushman & Wakefield/Thalhimer's Fredericksburg office represented Spotswood Medical Center Associates, the seller, in the transaction and procured the buyer, Lafayette Boulevard Properties.
HOUSTON — Marcus & Millichap has brokered the sale of the 14,000-square foot Red Oak Surgery Center, an ambulatory facility located at 17322 Red Oak Dr. on the campus of Houston Northwest Medical Center. The facility is operated by Dallas-based Tenet Healthcare. Tanner McGraw of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction and secured the buyer, a private investor.
BEVERLY HILLS, CALIF. — NorthMarq Capital has arranged $12 million in first-mortgage financing for the 53,058-square-foot Wilshire Medical Office Building in Beverly Hills. The loan includes a 10-year term and a 25-year amortization schedule. It was arranged for the borrower through NorthMarq’s correspondent relationship Principal Real Estate Investors. NorthMarq’s team was led by Robert Hervey, executive vice president and senior managing director of the firm’s Los Angeles office.
OKLAHOMA CITY — Birmingham, Ala.-based The Sanders Trust has commenced construction on the $19 million, 50-bed inpatient rehabilitation hospital located in Oklahoma City. Upon completion, the property will be fully leased to Mercy Rehabilitation Hospital, a joint venture between Centerre Healthcare Corp. and Mercy Health System of Oklahoma. Nashville, Tenn.-based Earl Swensson Associates designed the property, Birmingham, Ala.-based Iberia Bank provided the financing and Kansas City, Mo.-based J.E. Dunn is the general contractor. The new hospital is slated for a late 2012 completion.
UVALDE — Marcus & Millichap has brokered the $2.1 million sale of the 115-bed Uvalde Healthcare & Rehabilitation Center, located at 535 N. Park St. in Uvalde. Douglas O'Toole Marcus & Millichap's Houston office and Rob Reis of the firm's San Francisco office represented the seller, a limited liability company, in the transaction and procured the buyer, a partnership.
TALLADEGA, ALA. — Walker & Dunlop has arranged a $7.8 million loan through HUD's Section 223(a)(7) Streamline Refinance Program for the 234-bed Talladega Healthcare Center, located at 616 Chaffee St. in Talladega. Jay Healy of Walker & Dunlop's Atlanta office secured the 30-year fully amortizing loan.
SHAKOPEE, MINN. — NorthMarq Capital's Minneapolis office has arranged $3.75 million in first mortgage financing for Dean Lakes Medical Office Building, a 20,000-square-foot building located at 4201 Dean Lakes Blvd. in Shakopee, Minn. Financing was based on a five-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with Bremer Bank-Minnesota.
WARWICK, R.I. — Webster Bank recently provided $10 million in construction financing for the new $13.6 million Ambulatory Surgery and Medical Office Center at Kent Hospital in Warwick, R.I. Construction of the 62,454-square-foot medical office building began in May, and the facility is slated to open in summer 2012. The Washington D.C. office of Trammell Crow Co. is developing the building for Seavest Inc. The architect is Boston-based Steffian Bradley Architects, and Providence, R.I.-based Dimeo Construction Co. is the general contractor.
TEXAS — Murfreesboro, Tenn.-based National Health Investors has completed a $49.8 million sale-leaseback transaction with Legend Healthcare for four skilled nursing facilities in Texas, which are leased to Legend for 15 years. Legend has the option to purchase the facilities after 7 years.