FORT WORTH, TEXAS — A partnership between Ridgeline Capital Partners and Harrison Street has acquired Fort Behavioral Health, a 124,990-square-foot healthcare property in Fort Worth. The Class A facility was renovated in 2018, includes 125 beds and offers services such as addiction treatment programs and residential programs for adolescents with autism spectrum disorder. Vizion Health is the operator of the property, the seller of which was not disclosed.
DALLAS — RLI, the investment division of NAI Robert Lynn, has purchased a 22,654-square-foot medical office building located at 9500 N. Central Expressway in Dallas. The building currently houses DaVita Central Dallas Dialysis, and RLI has a new long-term agreement with a national surgical company to anchor the building. RLI expects the new space to be operational in the first quarter of 2020. Nick Lee and Justin Utah of NAI Robert Lynn sourced the off-market building purchase and handled lease negotiations with the new tenant.
HIAWATHA, IOWA — Marcus & Millichap Capital Corp. has arranged a $15 million loan for the acquisition of an 80,000-square-foot medical facility in Hiawatha. Mercy Medical Hospital has a 20-year lease at the property while Wolf Eye Clinic has a 14-year lease. The five-year loan features a 30-year amortization schedule, a 70 percent loan-to-value ratio and a fixed rate of 4.58 percent. Borrower information was not disclosed.
DALLAS AND ARLINGTON, TEXAS — Perimeter Healthcare, a behavioral healthcare company backed by Ridgemont Equity Partners, has acquired two 116-bed inpatient psychiatric hospitals located in the Dallas-Fort Worth (DFW) metroplex. The facilities will reopen in 2019 as Perimeter Behavioral Hospital of Dallas and Perimeter Behavioral Hospital of Arlington. This transaction marks Perimeter’s third acquisition in the past seven months. The seller was not disclosed.
AKRON, OHIO — Echo Development Group Inc. has acquired a 5,645-square-foot medical building in Akron for an undisclosed price. Echo acquired the property in partnership with BrightView, an outpatient addiction practice based in Cincinnati. The partnership plans to convert the building into a behavioral health clinic, which is set to open this summer. Currently, BrightView operates eight clinics in various locations throughout Ohio.
DALLAS — California-based CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Lakewest Rehabilitation & Skilled Care, a 118-bed skilled nursing facility located in Dallas. Next Gen P LLC is the operator of the property, which was acquired for roughly $10 million. Initial annual cash rent will be approximately $900,000. The seller was not disclosed.
AMARILLO, TEXAS — The Richland Cos., a privately held full-service real estate firm, has purchased Lone Star Heart Center, a 4,830-square-foot medical office building located in the West Texas city of Amarillo. The property, which was 100 percent leased at the time of sale to a single tenant, offers access to Interstate 40 as well as multiple medical facilities and a large selection of lodging options. The seller was not disclosed.
ATLANTA — Cushman & Wakefield has arranged a 16,000-square-foot lease for Piedmont Internal Medicine P.C., a private healthcare practice based in Atlanta, to join Northwest Medical Center in Atlanta’s Buckhead district. Harrison Street and HealthAmerica Realty Group began renovations on Northwest Medical Center, which is situated at 3280 Howell Mill Road, in 2015. Piedmont Internal Medicine is expected to move into the space this September. The first-floor space will include access to wheelchair ramps, patient drop-off and covered pathways from the parking garage. George Olmstead and Brandon Wallace of Cushman & Wakefield represented the tenant in the lease negotiations. Tommy Tift III, James McClintock and Wheeler Briggs of HealthAmerica Realty represented the landlord internally.
PEORIA, ARIZ. — JLL Healthcare Capital Markets Group has brokered the sale of Thunderbird Wellness Centre in Peoria. A joint venture between developer/owner MedProperties Group and Virtus Real Estate Capital sold the property to Chicago-based MBRE Healthcare for an undisclosed price. A USPI-affiliated ambulatory surgery center anchors the four-building, 56,190-square-foot, Class A medical office and specialty retail asset. At the time of sale, the property was fully occupied. Daniel Turley of JLL Healthcare Capital Markets Group advised the seller in the deal.
BURLINGTON, MASS. — The Gutierrez Co., a development and management firm that is active in the Boston area, will convert Burlington BioCenter, located about 15 miles northwest of Boston, into a 109,500-square-foot lab facility. The repositioning project is expected to be complete by 2019. The new facility will offer four stories of lab space, interconnecting stairways, abundant parking and an open design aesthetic. JLL is handling leasing and marketing of the new space.
