REBusinessOnline

Texas A&M Plans $546M Expansion at Texas Medical Center in Houston

HOUSTON — Texas A&M University has unveiled plans for a $546 million expansion project at Texas Medical Center in Houston. The project will include the $145 million acquisition and renovation of the 18-story Texas A&M Engineering Medicine (EnMed) building at 1020 Holcombe Blvd., as well as $401 million construction of two new towers adjacent to the EnMed structure. The first new building is a 30-story medical tower slated for completion in June 2023. The property will include …

Compass Health Breaks Ground on Broadway Healthcare Campus Redevelopment in Everett, Washington

EVERETT, WASH. — Compass Health has broken ground for the first phase of its Broadway campus redevelopment project in downtown Everett. The regional center is designed to bring together a continuum of behavioral healthcare, primary healthcare and permanent supportive housing services. Slated to open in 2021, the five-story, 47,000-square-foot building will include 82 units of permanent supportive housing for people with chronic behavioral health challenges, including units available to …

Walker & Dunlop Provides $13M HUD Loan for Refinancing of Skilled Nursing Facility in Lubbock

LUBBOCK, TEXAS — Walker & Dunlop has provided a $13 million HUD loan for the refinancing of Crown Point Health Suites, a skilled nursing facility in Lubbock. The property was built in 2011 and features 96 units. Kevin Giusti of Walker & Dunlop structured the financing through HUD’s LEAN 232/233(f) program, which provides long-term and reduced-rate financing for specialty healthcare facilities. The borrower was not

Gantry Secures $703M Construction-to-Permanent Financing for VA Medical Office Portfolio

SAN FRANCISCO — Gantry, an independent mortgage banking firm based in San Francisco, has secured $373 million in construction financing and $330 million in permanent financing for a six-property medical office building portfolio. The properties in the portfolio are Veterans Affairs (VA) medical clinics located in San Diego, Chula Vista and Redding, Calif.; New Port Richey, Fla.; and Tulsa, Okla. The sixth property is in an undisclosed, confidential location. George Mitsanas and Peter …

Joint Venture Acquires Emerson Hospital Center in Concord, Massachusetts, for $23.3M

CONCORD, MASS. — A joint venture of Celera Properties and AEW Capital Management has acquired Emerson Hospital Center for Specialty Care, a 46,350-square-foot medical office property in Concord, a northwestern suburb of Boston. Located at 54 Baker Ave. Extension, the building serves as a specialized outpatient facility for Emerson Hospital. Coleman Benedict, Ben Sayles and Mike Restivo led a JLL team that represented the seller, Concord Property Management, in the transaction. The team also …

PGIM Real Estate Provides $10.7M HUD Refinance Loan for Skilled Nursing Facility in New Orleans

NEW ORLEANS — PGIM Real Estate Finance has provided a $10.7 million HUD loan to refinance St. Margaret’s Daughters Home, a nonprofit skilled nursing facility located in the Mid-City neighborhood of New Orleans. St. Margaret’s Daughters Home was constructed in 2013 and sits on the site of the former Lindy Boggs Medical Center, which was devastated by Hurricane Katrina in 2005. The $33 million construction of the new facility was initially financed using a capital stack of New Market Tax …

Cushman & Wakefield Brokers $7.7M Sale of Medical Office Building in Roscoe, Illinois

ROSCOE, ILL. — Cushman & Wakefield has brokered the $7.7 million sale of the SwedishAmerican Clinic & Immediate Care-Prairie Center, a 25,565-square-foot medical office building in Roscoe in northern Illinois. Constructed in 2014, the facility sits on 7.5 acres at 4282 E. Rockton Road. SwedishAmerican, a division of UW Health, occupies 80 percent of the property. Services provided at the facility include immediate care, primary care, obstetrics and gynecology, podiatry, orthopedics, …

Healthcare Realty Acquires Taj Mahal Medical Office Building in Laguna Hills for $42M

LAGUNA HILLS, CALIF. — Healthcare Realty has purchased a medical office building, located at 23521 Paseo De Valencia in Laguna Hills, from The Muller Co. for $42 million in an off-market transaction. Known as Taj Mahal, the property was originally developed in 1964 as an office building and later converted into medical office space due to its proximity to Saddleback Memorial Hospital. The 88,538-square-foot asset underwent a modernization in 2011 to update the property’s design and …

MLL Capital Purchases 95,043 SF Medical Office Building in Elgin, Illinois

ELGIN, ILL. — MLL Capital has purchased a 95,043-square-foot medical office building located at 1435 N. Randall Road in Elgin. The purchase price and seller were undisclosed. The five-story property is located near I-90 on the campus of the Advocate Sherman Hospital. Both the building and connected hospital were constructed in 2009. Jonathan Swindle and Kyle Arnold of Waveland Property Group have been named leasing agents for the property. Boston-based MLL Capital was founded in 2016 and …

IMPACT Strategies Completes 70,000 SF Cancer Center in Shiloh, Illinois

SHILOH, ILL. — IMPACT Strategies has completed construction of the new Siteman Cancer Center at Memorial Hospital East’s Shiloh campus. The building adds 70,000 square feet of treatment facilities and office space to the campus, which is situated about 20 miles east of St. Louis. Siteman Cancer Center is the only National Cancer Institute-designated comprehensive cancer care center in the region. The facility houses labs, a pharmacy, medical oncology infusion clinics and radiation oncology …

Conferences