Healthcare

WENTZVILLE, MO. — McCarthy Building Cos. has broken ground on Mercy Hospital Wentzville, a 400,000-square-foot hospital in Wentzville, a far west suburb of St. Louis. The project marks Missouri’s first new acute care hospital campus in nearly a decade, according to McCarthy. The development will include 75 inpatient acute care beds and a 26-bed emergency department with two trauma areas and four behavioral health rooms. The advanced medical campus will offer a broad range of inpatient and outpatient care, including surgical and specialty options such as cardiovascular, cancer and orthopedics as well as outpatient imaging, diagnostic and treatment services. Crews began preparing the site in late March and will begin work on the central utility plant this summer, with the hospital tower work beginning in early 2026. Construction of the hospital is expected to be completed in four years. The project team includes CannonDesign for architecture and design and IMEG as engineer. Mercy is one of the 15 largest U.S. health systems.

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DAYTON, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6 million loan for the refinancing of Dayton Children’s Behavioral Health Center, a medical office facility located at 5501 Far Hills Ave. in Dayton. Dan Litman of MMCC arranged the financing with a regional bank on behalf of a local, privately held construction and real estate development company. The nonrecourse loan features a nine-year term, 75 percent loan-to-value ratio, 5.73 percent interest rate and 20-year amortization period. Dayton Children’s is a pediatric acute children’s teaching hospital with locations throughout Ohio. The newly completed facility on Far Hills Avenue offers developmental rehab and speech therapy, imaging and lab work, and pediatric primary care services.

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COHASSET, MASS. — Cushman & Wakefield has arranged a loan of an undisclosed amount for the refinancing of a 35,000-square-foot outpatient medical office building in Cohasset, a southeastern suburb of Boston. The three-story building is known as Cohasset Family Health Center. Tyler Morss of Cushman & Wakefield arranged the loan through an undisclosed bank on behalf of the owner, regional owner-operator Thomas Park Investments.

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WELLESLEY, MASS. — Regional owner-operator Grander Capital Partners has completed the redevelopment of a 26,351-square-foot office building in Wellesley, a western suburb of Boston. Grander repositioned the vacant building at 70 Hastings St. to support healthcare uses, introduced new building systems, renovated the lobby and communal areas and upgraded the property’s landscaping. Grander also tapped regional brokerage firm Hunneman to lease the property, which is now 94 percent occupied.

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AUBURN HILLS, MICH. — Lakeshore Ear, Nose & Throat Center has signed an 89-month lease for 6,567 square feet of medical office space at 2251 N. Squirrel Road in Auburn Hills. James Mitchell and David McNabnay of Dominion Real Estate Advisors represented the landlord, Five Points Professional Office Building LLC. Michael Pulcini of M P Real Estate Consulting represented the tenant, which maintains six locations in metro Detroit.

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CHICAGO — JLL Design worked with Shriners Children’s Chicago, a pediatric specialty care provider on Chicago’s far west side, to transform the hospital’s teen lounge and billiard area. The new family lounge and patient lounge balances functionality and visual appeal with a bright aesthetic. The redesigned space showcases textiles that meet rigorous healthcare standards. According to JLL Research, a top design trend for 2025 is “people-centric design,” focusing on the role of the built environment for experience, well-being and social interaction. JLL Design manages diverse projects spanning strategy, branding and interiors.

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MEDFORD, MASS. — Cambridge Health Alliance has signed a 15-year, 56,000-square-foot healthcare lease in Medford, located north of Boston. The healthcare provider will occupy the second floor of One Cabot Road, a building that can also support office, life sciences and manufacturing uses, beginning in June. Deb Gould, Ali Cavanaugh and Rory Walsh of Newmark represented the landlord, The Davis Cos., in the lease negotiations. Paul Delaney, Adam Subber and Carter Sweabe of Cresa represented Cambridge Health Alliance.

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FRESNO, CALIF. — JLL Capital Markets has negotiated the sale of WelbeHealth-Fresno Center, an 18,869-square-foot PACE medical facility in Fresno. PACE stands for Program of All-Inclusive Care for the Elderly. Originally built in 1975, the property was renovated in 2020. The fully leased facility is part of the PACE program, providing comprehensive medical and social services to elderly individuals who are eligible for nursing home-level care but wish to continue living in their own homes. Services at WelbeHealth-Fresno Center include medical care, coordination, prescriptions, in-home care, dental, vision, hearing, transportation, physical and occupational therapy as well as social activities and meals. Matt Dicesare and Jeff Cicurel of JLL represented the seller, Turner Impact Capital’s Turner Healthcare Facilities Fund, and procured the buyer, Corum Asset Management.

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FRISCO, TEXAS — Dallas-based Cambridge Holdings Inc. has broken ground on a medical office building within the 242-acre Frisco Station mixed-use development on the northern outskirts of Dallas. According to multiple media outlets, including The Dallas Business Journal, the project has a $50 million price tag. The site is located on the northwest quadrant of Dallas North Tollway and Warren Parkway, adjacent to The Star, and the building will total 85,800 square feet. Compass Surgical Partners, Orthopedic Institute of North Texas and Lam Vascular & Associates have committed to being the project’s anchor tenants. Perkins&Will is the project architect, and Rogers-O’Brien Construction is the general contractor. Kimley-Horn is providing civil engineering services, and Transwestern has been tapped as the leasing agent. Completion is slated for late 2026. A partnership between Hillwood, VanTrust Real Estate and The Rudman Partnership owns Frisco Station.

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KENNEWICK, WASH., AND SALEM, ORE. — BWE and Blueprint Healthcare Real Estate Advisors have closed two loans totaling $17.8 million to provide financing for the purchase of two memory care communities in Washington and Oregon. The financing includes a $10.4 million loan for Windsong at Southridge, a 56-unit community in Kennewick, and a $7.4 million loan for Windsong at Eola Hills, a 56-unit property in Salem. Lundat Kassa of BWE and Kristen Ahrens of Blueprint secured the HUD financing. Both acquisition bridge loans, which have five-year terms, 72 percent loan-to-cost and no prepayment penalties, are nonrecourse with fixed and competitive rates. After the acquisition, BWE will provide permanent financing for the properties through HUD’s 232/223(f) loan product designed for senior living and healthcare communities, a process that has already begun for Windsong at Southridge. The loans have been structured to maximize exit proceeds up to 100 percent loan-to-cost for the borrowers. Located at 4000 W. 24th Ave. in Kennewick, Windsong at Southridge was constructed in 2018 and offers a variety of amenities, including arts and crafts activities, a salon, game room, gym, library and a health and therapy center. Constructed in 2015 at 20230 Wallace Road NW in Salem, Windsong at …

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