Healthcare

NKF Capital Markets Negotiates $9.8M Sale of Medical Office Building in South Florida

by Camren Skelton July 9, 2018

DELRAY BEACH, FLA — NKF Capital Markets has arranged the $9.8 million sale of a 32,987-square-foot medical office building located at 4675 Linton Blvd. in Delray Beach. Adam Greenberg, Michael Lapointe and Michael Lohmann of NKF Capital Markets arranged the transaction on behalf of the seller, Delray Outpatient Properties LLC. Flagler Investment Healthcare LLC acquired the asset. The two-story, Class A building was constructed in 2005 and was 75 percent leased at the time of sale. ASC, an affiliate of Tenet Health, occupies approximately 10,000 square feet at the building. Additional tenants include South Palm Gastro Health, Total Vein & Skin Dermatology and the South Florida Gastro Association. The building is located across from Delray Medical Center, a 493-bed acute care hospital that serves the southern Palm Beach County region and staffs roughly 1,600 employees and 600 doctors.

July 9, 2018

Development Healthcare Midwest Minnesota

Kraus-Anderson Constructs $2.1M Health Center Expansion in Hutchinson, Minnesota

by Kristin Harlow July 9, 2018

HUTCHINSON, MINN. — Kraus-Anderson has completed a $2.1 million expansion for Hutchinson Health. The 9,600-square-foot project includes a new 5,103-square-foot cancer center as well as a cardiac rehab area and on-call suites. The property is located at 1095 Highway 15 South in Hutchinson, about 60 miles west of Minneapolis. Designed by Wold Architects and Engineers, the expansion triples the size of the existing center and integrates all of Hutchinson Health’s cancer services into one location. The project includes three additional exam rooms, six infusion therapy rooms and a procedure room.

July 9, 2018

Acquisitions Arizona Healthcare Office Western

YAM Properties Sells Medical Office Campus for $16.5M in Glendale, Arizona

by Amy Works July 9, 2018

GLENDALE, ARIZ. — Scottsdale-based YAM Properties has completed the disposition of Arrowhead Professional Center, located at 18301 N. 79th Ave. in Glendale. Cleveland, Ohio-based Woodside Health acquired the property for $16.5 million. Steve Lindley, Bob Buckley and Tracy Cartledge of Cushman & Wakefield Phoenix’s capital markets group, along with the healthcare team of Sheila Bale, Tom Weinhold and Ryan O’Connor, represented the seller in the deal. The eight-building medical and professional office campus features 70,652 square feet of space. At the time of sale, the property was fully occupied and anchored by a surgery center jointly owned by Banner Health and the CORE Institute.

July 9, 2018

Development Healthcare Texas

MYCON Begins Construction of 20,000 SF Surgery Center in Plano

by Taylor Williams July 6, 2018

PLANO, TEXAS — MYCON General Contractors has begun construction of a 20,000-square-foot ambulatory surgery center for local ophthalmology practice Brooks Eye Associates in Plano, a northern suburb of Dallas. Designed by Houston-based Browne McGregor Architects Inc., the facility will include two operation rooms, consultation and diagnostic areas, offices, and a reception area. Completion is slated for January 2019.

July 6, 2018

Acquisitions Healthcare Multifamily Northeast Pennsylvania Seniors Housing

Blueprint Negotiates Sale of Eight-Property Skilled Nursing Portfolio in Southeast Pennsylvania

by David Cohen July 5, 2018

PHILADELPHIA — Blueprint Healthcare Real Estate Advisors has brokered the sale of the Lightning Portfolio, eight skilled nursing facilities in the Philadelphia metro area. The seller sought to divest the non-core assets, which featured a concentration of high-barrier-to-entry locations in the Philadelphia area. The buyer was a regional owner-operator looking for a growth opportunity. The portfolio totals 1,050 beds. The price and names of facilities were not disclosed. Blueprint’s Ben Firestone, Christopher Hyldahl, Michael Segal and Gideon Orion led the transaction

July 5, 2018

Healthcare Loans New York Northeast

Greystone Provides $14.5M HUD Loan to Refinance Healthcare Facility in New York

by David Cohen July 3, 2018

TARRYTOWN, N.Y. — Greystone has provided $14.5 million HUD-insured loan for the refinancing of Tarrytown Hall Care Center, a skilled nursing facility in Tarrytown. The 120-bed facility is located 25 miles north of Manhattan. The transaction was originated by Fred Levine of Greystone. The borrower was undisclosed. The permanent loan carries a 35-year term and amortization period with a fixed rate.Tarrytown Hall offers a variety of specialized services, including short-term rehabilitation, physical therapy, cardiac therapy, stroke recovery and long-term care.

July 3, 2018

Acquisitions Healthcare Massachusetts Northeast

R.W. Holmes Brokers $1.1M Sale of Medical Building in Suburban Boston

by David Cohen July 3, 2018

WESTBOROUGH, MASS. — R.W. Holmes Realty has brokered the sale of a 6,810-square-foot medical office building located at 210 Turnpike Road in Westborough. The sales price was $1.1 million. The property is located on 3.9 acres and includes 120 parking spaces. R.W. Holmes represented the seller, Park Street Realty LLC, in the transaction. The property was purchased by 6 Humphrey Street Realty LLC. At the time of sale, the building was occupied by two dentists and a window blinds company. The buyer plans to renew the leases of the tenants in the building.

July 3, 2018

Acquisitions Healthcare Office Texas

CBRE Arranges Sale of Two Office/Medical Buildings Totaling 170,111 SF in Dallas

by Taylor Williams June 29, 2018

DALLAS — CBRE has arranged the sale of Lakewood Towers, two office/medical buildings totaling 170,111 square feet in East Dallas. The property, which includes a five-level parking garage, was recently renovated and includes a tenant lounge and a conference center. John Alvarado, Gary Carr, Robert Hill, Eric Mackey, Evan Stone and Jared Chua of CBRE represented the seller, Highland Lakewood LLC, in the sale. An affiliate of Dallas-based Caddo Holdings acquired the property for an undisclosed price. Lakewood Towers was 99 percent leased at the time of sale to tenants such as Wells Fargo, Texas Neurology and Health Texas.

June 29, 2018

Acquisitions Healthcare Indiana Midwest

MedEquities Acquires Rehabilitation Hospital in New Albany, Indiana for $23.4M

by Kristin Harlow June 29, 2018

NEW ALBANY, IND. — MedEquities Realty Trust Inc. (NYSE: MRT) has acquired Southern Indiana Rehabilitation Hospital in New Albany near Louisville for $23.4 million. The company also executed a 15-year lease with Vibra Rehabilitation Hospital of Southern Indiana LLC for the 60-bed inpatient rehabilitation facility (IRF). Vibra will convert the 26 beds currently in use as skilled nursing in order to operate the entire 64,380-square-foot facility as an IRF, which is the original design of the facility. The seller was not disclosed.

June 29, 2018

Development Healthcare Southeast Tennessee

Rendina Breaks Ground on 120,000 SF Medical Facility in Germantown, Tennessee

by Camren Skelton June 28, 2018

GERMANTOWN, TENN. — Rendina Healthcare Real Estate has broken ground on a new 120,000-square-foot medical facility for Campbell Clinic in Germantown, roughly 21 miles southeast of Memphis. The Tennessee-based orthopaedic clinic currently offers care at five outpatient clinics and two ambulatory surgery centers. The new facility will be located adjacent to Campbell Clinic’s existing orthopaedics building, which will be renovated in conjunction with the new construction. The new building will include an ambulatory surgery center with eight operating rooms, an outpatient orthopaedic clinical space and an expanded physical therapy and sports performance area. Rendina expects to wrap up construction on the four-story building by fall 2019.

June 28, 2018

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